ECB keeps rates on hold despite inflation fears for eurozone

The European Central Bank kept interest rates on hold yesterday for the third meeting in a row despite concerns that a modest economic recovery across the eurozone would fuel inflation.

- Phillip Inman

The ECB kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc last month, up from 2% in August and 1.7% a year earlier.

In the EU, annual inflation was 2.6%, up from 2.4% in August, according to Eurostat.