Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 3 July 2014 to keep the key ECB interest rates unchanged. The latest information signals that the euro area economy continued its moderate recovery in the second quarter, with low rates of inflation and subdued monetary and credit growth. At the same time, inflation expectations for the euro area over the medium to long term continue to be firmly anchored in line with the Governing Council’s aim of maintaining inflation rates below, but close to, 2%. The combination of monetary policy measures decided last month has ... (full story)