ECB Governing Council Press Conference - 5 February 2026

In the week ending January 31, the advance figure for seasonally adjusted initial claims was 231,000, an increase of 22,000 from the previous week's unrevised level of 209,000. ...

The Governing Council today decided to keep the three key ECB interest rates unchanged. Its updated assessment reconfirms that inflation should stabilise at its 2% target in the medium term. The economy remains resilient in a challenging global environment. Low unemployment, solid private sector balance sheets, the gradual rollout of public spending on defence and infrastructure and the supportive effects of the past interest rate cuts are underpinning growth. At the same time, the outlook is still uncertain, owing particularly to ongoing global trade policy uncertainty and geopolitical tensions. The Governing Council today decided to keep the three key ECB interest rates unchanged. Its updated assessment reconfirms that inflation should stabilise at its 2% target in the medium term. The economy remains resilient in a challenging global environment. Low unemployment, solid private sector balance sheets, the gradual rollout of public spending on defence and infrastructure and the supportive effects of the past interest rate cuts are underpinning growth. At the same time, the outlook is still uncertain, owing particularly to ongoing global trade policy uncertainty and geopolitical tensions. TRADERS KEEP ECB RATE BETS STEADY, PRICE 5BPS OF CUTS IN 2026 Just in | ECB Reports Gradual Decline of APP and PEPP Portfolios as Reinvestment of Maturing Securities Ceases. ECB holds interest rates at 2% after eurozone inflation drops in January The European Central Bank (ECB) has left interest rates on hold at 2%, as widely expected, after inflation in the eurozone came in at 1.7% in the year to January. This means rates across the eurozone have been paused for a fifth consecutive time, since June last year, since inflation slipped back to the bloc’s target. Economists still expect no change in the coming months from the ECB, which has predicted that inflation will average 1.9% in 2026 after hovering at 2.1% last year. However, Andrzej Szczepaniak, an analyst at Nomura, said he expects its next move to be an increase rather than a cut, although he expects rates to “remain on hold for the foreseeable future”. He forecasts unemployment in the eurozone to fall further, “adding to wage growth and inflationary pressures”. He predicted at least two quarter point increases in rates in 2028 to “bring inflation back to target”.

BANK OF ENGLAND'S BAILEY SAYS DISINFLATION IS ON TRACK, AHEAD OF SCHEDULE EXPECTED IN NOV BANK OF ENGLAND'S BAILEY SAYS WE ARE NOT CURRENTLY FACING A SITUATION IN WHICH MONETARY POLICY IS BEING HIT BY BIG NEW SHOCKS ... BANK OF ENGLAND'S BAILEY SAYS NEED TO ENSURE THAT INFLATION FALLS ALL THE WAY BACK TO 2% AND STAYS THERE ... BoE’s Gov Bailey: Upside Risks To Inflation Have Diminished - 'Lower Inflation Should Feed Into Expectations - We Expect Pay Growth Around 3.2% By End Of Year - Underlying Employment Flat Over Past Year

ECB's President Lagarde: Growth is mainly driven by services, notably IT and comms ECB'S LAGARDE: GOVT SPENDING SHOULD CONTRIBUTE TO DOMESTIC DEMAND ... Just in | ECB President Lagarde Warns of Demand Risks Due to Economic Uncertainty. ECB's President Lagarde: A stronger Euro could bring inflation down more than now expected. ECB'S PRESIDENT LAGARDE: INFLATION COULD TURN OUT TO BE HIGHER IF THERE IS A PERSISTENT UPWARD SHIFT IN ENERGY PRICES ...

ECB's President Lagarde: The ECB decision was unanimous. ECB's President Lagarde: ECB doesn't target exchange rate LAGARDE: KEEP CLOSE EYE ON EXCHANGE RATE LAGARDE: IMPACT OF FX MOVES SINCE LAST YEAR PART OF BASELINE ECB's President Lagarde: The current range is very much in line with the overall average for as long as the Euro has been around

LAGARDE: ECB STILL IN A GOOD PLACE, INFLATION IN A GOOD PLACE LAGARDE: INFLATION MOVING GRADUALLY TO ECB'S 2% TARGET ECB'S LAGARDE: CONSUMPTION IS IMPROVING; INVESTMENT IS THE BIG STORY ECB'S LAGARDE: INVESTMENT BOOM IS RELATED TO AI AND EVERYTHING RELATED TO AI ECB'S LAGARDE: WILL TAKE SOME TIME TO SEE HOW THAT IMPACTS PRODUCTIVITY, INFLATION