| The European Central Bank (ECB) kept its benchmark interest rates steady for a fifth straight time. The central bank noted that if the Governing Council?s updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission were to further increase its confidence that inflation is converging to the target in a sustained manner, it would be appropriate to reduce the current level of monetary policy restriction,? it said in a statement. ECB had hiked its key rate to a record 4% in September. Powered by Commodity Insights |