The European Central Bank (ECB) announced its interest rate decision on Thursday, concluding its October 2930 meeting. As widely expected, the bank kept rates unchanged at 2.15% the lowest level since October 2022 marking the third consecutive meeting without a change.

Policymakers at the ECB believe that no further rate cuts are necessary to achieve the 2% inflation target, emphasizing in recent weeks that the current monetary easing cycle is either nearing completion or has effectively reached its end.