ECB keeps interest rates on hold despite eurozone inflation fears

Key deposit rate kept at 2% even as recovery starts to drive up price growth across bloc

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The European Central Bank kept interest rates on hold on Thursday for the third meeting in a row despite concerns that a modest economic recovery across the eurozone would fuel inflation.

The ECB kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc in September, up from 2% in August and 1.7% a year earlier.

In the 27-member EU, annual inflation was 2.6% in September, up from 2.4% in August, according to Eurostat.

ECB keeps interest rates on hold despite eurozone inflation fears

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