欧洲央行延续利率维稳政策 欧元区通胀回落至目标水平下方

Core Viewpoint - The European Central Bank (ECB) has decided to maintain its three key interest rates unchanged, indicating a stable economic outlook despite ongoing global trade and geopolitical risks. The ECB anticipates that inflation in the Eurozone will stabilize around the 2% target level in the medium term [1][2]. Group 1: Interest Rates - The ECB has kept the deposit facility rate at 2.00%, the main refinancing rate at 2.15%, and the marginal lending rate at 2.40% [1]. Group 2: Economic Conditions - The ECB's assessment highlights low unemployment rates, robust private sector balance sheets, and increasing public spending in defense and infrastructure as key factors supporting Eurozone economic growth [2]. - The ECB expects inflation rates to return to target levels in the medium term, with the overall trend of inflation cooling aligning with expectations [2]. Group 3: Inflation Data - Eurozone inflation has continued to decline, with the annual inflation rate dropping to 1.7% in January, marking the lowest level since September 2024 and falling below the ECB's 2% medium-term inflation target for the first time [2]. - Month-on-month consumer prices decreased by 0.5% in January, representing the largest single-month decline since November 2023 [2]. - Core inflation, excluding volatile items like energy and food, fell slightly from 2.3% to 2.2%, reaching the lowest level since October 2021, indicating reduced inflationary stickiness [2]. - Price trends across categories show a moderation in service price increases to an annual rate of 3.2%, while food, alcohol, and tobacco prices rose slightly to 2.7%. Energy prices significantly contributed to the decline in overall inflation, dropping by 4.1% in January [2].