Following a year-long series of cuts, the central bank for the eurozone has now kept its key deposit rate on hold at 2% since July.

Eurozone inflation has settled around the ECB's 2% target in recent months and Europe has weathered US President Donald Trump's tariff onslaught better than initially feared. The ECB revised up its Eurozone economic growth forecast to 1.2% for next year, with inflation projected at 1.9%.

The ECB will continue its current monetary policy. The wait-and-see policy is consistent with the current economic situation in the eurozone but preserves the flexibility to adjust interest rates up or down.