ECB meets expectations as rates held at 4%

The central bank's governing council noted inflation had dropped "markedly" in September, falling from 5.2% in August to 4.3%. "Past interest rate increases continue to be transmitted forcefully into financing conditions," it said in a statement today. Economists forecast BoE to hold rates at 5.25% through to spring 2024 The ECB's hiking cycle began in July 2022, with ten consecutive hikes made to bring its deposit facility rate to 4%. Following the pause last month, it is widely expected that the central bank has ended its hiking cycle. In its decision today, the governing coun...