Preserving favourable financing conditions over the pandemic period remains essential to reduce uncertainty and bolster confidence, thereby underpinning economic activity and safeguarding medium-term price stability. Euro area financing conditions have remained broadly stable recently after the increase in market interest rates earlier in the year, but risks to wider financing conditions remain.
Against this background, the Governing Council decided to reconfirm its very accommodative monetary policy stance. We will keep the key ECB interest rates unchanged.