ECB leaves key interest rate untouched for the fourth time in a row. Inflation is on the decline, but the goal has not yet been reached.
Economists expect that the ECB will cut interest rates this year. However, the monetary authorities have not yet wanted to commit to an exact date. ECB President Christine Lagarde reiterated earlier assessments that the process of declining inflation rates is likely to continue. Lagarde emphasized that in order to change course, the ECB Council must first be confident that the central bank's inflation target will be achieved in the long term.