Every step must be made dependent on currently available data. Risk factors are the oil price and an escalation in the Middle East, which might drive inflation. The next ECB interest rate meeting is on June 6th. Recently, many council members campaigned for a reduction. The ECB’s key interest rate is 4.5 percent. This is the interest that commercial banks have to pay when they borrow money from the ECB. The deposit interest rate is 4.0 percent.
