ECB holds rates steady, may raise by 25 basis points in December.

On Thursday (29th) local time, the European Central Bank announced that it would keep its three key interest rates unchanged, with the deposit facility rate, main refinancing rate and marginal lending rate maintained at 2.50%, 2.65% and 2.90% respectively, in line with market expectations. This is the first time the ECB has held rates steady after raising them by 25 basis points in September. Since the beginning of this year, the ECB has raised rates twice, in June and September, by a cumulative 50 basis points.