Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 8 November to keep the key ECB interest rates unchanged. Owing to high energy prices and increases in indirect taxes in some euro area countries, infl ation rates are likely to remain above 2% for the remainder of 2012. They are expected to fall below that level in the course of next year and to remain in line with price stability over the policy-relevant horizon. Consistent with this picture, the underlying pace of monetary expansion continues to be subdued. Infl ation expectations for the euro area remain fi rmly ... (full story)