新华财经北京2月5日电欧洲央行公布2月货币政策决议，决定维持三大关键利率不变，评估确认通胀将 在中期稳定于2%的政策目标水平。 欧央行重申，将坚定确保通胀在中期稳定于2%目标，货币政策立场将遵循数据依赖、逐次会议评估原 则，利率决策将综合通胀前景及相关风险、最新经济金融数据、核心通胀走势与货币政策传导效果综合 研判，且未承诺特定的利率调整路径。 整体来看，本次欧央行利率持稳，是在 "控通胀" 和 "稳增长" 之间的平衡选择：既体现出对通胀中期回 归 2% 目标的信心，也对经济前景的不确定性保持谨慎，而 "数据依赖、逐次评估" 的政策原则，意味 着后续利率调整无固定路径，欧元区通胀、就业、经济增长等核心数据将成为政策转向的关键指引，也 将主导欧元区资产价格的后续走势。 本次决议明确，存款便利利率、主要再融资操作利率、边际贷款便利利率分别维持在2.00%、2.15%和 2.40%。资产购买计划（APP）和大流行紧急购买计划（PEPP）持仓正以可衡量、可预测的节奏缩减， 欧元体系不再对到期证券的本金回款进行再投资。 对于金融市场，本次利率决议直接熨平短期波动，同时显著降温市场对欧央行的宽松预期。债市方面， 利率未作 ...

Core Viewpoint - The European Central Bank (ECB) has decided to maintain its key interest rates unchanged, aligning with market expectations, marking the fourth consecutive meeting without changes [1][5]. Interest Rates - The deposit facility rate remains at 2.00%, the main refinancing operations rate at 2.15%, and the marginal lending facility rate at 2.40% [3][7]. Inflation Outlook - The ECB's latest assessment confirms that inflation is expected to stabilize around the 2% target in the medium term. Forecasts indicate an average inflation of 2.1% in 2025, 1.9% in 2026, 1.8% in 2027, and 2.0% in 2028. Core inflation, excluding energy and food, is projected to average 2.4% in 2025, 2.2% in 2026, 1.9% in 2027, and 2.0% in 2028. The inflation forecast for 2026 has been revised upward due to expectations that service sector inflation will decline more slowly than previously anticipated [2][6]. Economic Growth Projections - Economic growth forecasts have been upgraded compared to September's predictions, driven by domestic demand. Growth rates are now projected at 1.4% for 2025, 1.2% for 2026, 1.4% for 2027, and expected to remain at 1.4% in 2028 [2][6]. Policy Tools and Market Stability - The ECB is prepared to adjust all policy tools as necessary to ensure inflation stability at the 2% target and to maintain the smooth functioning of monetary policy transmission. The Asset Purchase Program (APP) and Pandemic Emergency Purchase Program (PEPP) portfolios are being reduced in an orderly and predictable manner, as the euro area no longer reinvests the principal of maturing securities. Additionally, transmission protection tools may be employed to address unjustified market volatility that poses a serious threat to monetary policy transmission across the euro area [4][7].