The ECB did not raise interest rates at the meeting that ended yesterday. Thus, the value of the base rate was kept at 4.5%. Market participants expected such a decision, RBC reports. Before that, the regulator has made 10 consecutive increases, as a result of which the deposit rate is now at the highest level in history - 4%.

According to a Reuters poll of economists, most of them (85%) believe that the regulator has ended the cycle of rate hikes, which it started in 2022. Nevertheless, the main European stock indices ended trading in the negative - German DAX fell by 1.08%, British FTSE 100 - by 0.81%, French CAC 40 - by 0.37%.

The ECB estimates that rates are now at levels that will bring inflation back to the 2% target. The latter slowed down in September, increasing by 4.3% against 5.2% in August. At the same time, the central bank said it will maintain high rates for as long as it turns out necessary, RBC reported. To make a decision on them will take into account the dynamics of inflation and its future prospects.