ECB’s Escriva says no reason for interest rate changes

Investing.com -- European Central Bank policymaker Jose Luis Escriva stated Friday that he sees no reason for interest rate changes and expects monetary policy to remain steady for the foreseeable future.

His comments follow the ECB’s decision on Thursday to maintain current policy rates while revising growth and inflation projections upward. This upward revision likely eliminates the possibility of further cuts to borrowing costs in the near term.

The central bank’s decision to hold rates steady while increasing economic forecasts signals a more cautious approach to monetary policy as the European economy shows signs of resilience.

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