Christine Lagarde, Boris Vujčić: Monetary Policy Statement

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The ECB Governing Council decided to keep the three key ECB interest rates unchanged and continue its data-dependent, meeting-by-meeting approach to determining monetary policy. Rising energy prices have increased the upside risks to inflation and the downside risks to economic growth. Euro area inflation rose from 3.2% in August to 3.8% in September, while energy price inflation rose to 18.9%. The ECB remains committed to stabilising inflation at its 2% target over the medium term.