Inflation in the eurozone countries has reached a stable level, and the economy is showing resilience even in conditions of high uncertainty, said Piero Cipollone, a member of the Board of Governors of the European Central Bank (ECB). According to the ECB, inflation in the eurozone has stabilized at 2%. Cipollone stressed that the eurozone's GDP will slow down in the third quarter, but will return to its previous growth dynamics in the future. He called the current rate level justified, but added that the regulator is ready to adjust the policy in any direction if necessary. At the September meeting, the ECB kept all three key rates unchanged. The next decision will be made on October 30. So far, investors do not expect new steps to reduce the deposit rate (it currently stands at 2%), but the situation may be revised in December, when the ECB will publish updated forecasts. They will take into account, in particular, the effect of US import duties and the risks of inflation slowing below the target level. Cipollone added that the key guideline for the regulator remains inflation expectations, which are now stable at around 2%.
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