ECB decides to maintain key interest rates in the euro area

The European Central Bank (ECB) has decided to keep the interest rates unchanged in the euro area. Following a series of rate hikes in response to high inflation, the ECB made its first rate cut in June.

However, with inflation still above the target of 2%, the central bank has opted for a pause in its monetary policy. The ECB expects inflation to remain high for some time.

The decision comes amidst concerns over the weakening economy in the Eurozone, as several indicators and economic data have disappointed in recent months. The ECB's next steps will be closely watched, as many economists predict further rate cuts to achieve the inflation target.

The central bank remains cautious and has not committed to a specific path for interest rates.