The European Central Bank has kept its deposit facility rate at 2% for a third consecutive meeting, reports "Euronews".
The key interest rate has been hovering at 2% since the beginning of June and analysts do not expect the ECB to rush to make changes anytime soon.
The forecast comes at a time when the economy is coping relatively well against global trade tensions. According to preliminary estimates by Eurostat, published just hours before the ECB's decision, the eurozone's gross domestic product increased by 0.2% in the third quarter of the year compared to the previous three months and grew by 1.3% on an annual basis.
Against this backdrop, inflation is moving close to the ECB's target of 2%.
The central bank sets monetary policy for the eurozone through three key interest rates. The deposit facility is the interest rate that banks receive when they deposit money with the central bank overnight.
The interest rate on the main refinancing operations is the interest rate that banks pay when they borrow money from the ECB for one week, and the interest rate on the marginal lending facility is the interest rate that banks pay when they borrow money from the ECB overnight.
The interest rates on both the main refinancing operations and the marginal lending facility remained unchanged at 2.15% and 2.40% respectively.
Although inflation in the euro area remains close to its 2% target, the latest data show a slight increase. Consumer prices rose by 2.2% year-on-year in September, compared with 2.1% in August and 2% in July. Core inflation, which excludes volatile items such as food and energy, rose to 2.4% in September from 2.3% in August.
Although Europe faces pressure from U.S. tariffs and the war in Ukraine, ECB President Christine Lagarde and other central bank officials have said in recent weeks that monetary policy is in a "sound position". The ECB said the U.S. tariffs have had little impact on inflation so far and the effects on growth have been "relatively modest".