# European Central Bank holds rates, says domestic price pressures high

> The ECB left its key rate at 3.75% on July 18, 2024, in a unanimous vote, after a June cut. The bank said domestic price pressures and services inflation remained high, and markets priced two more cuts this year.

- Date: 2024-07-18 · published 2024-07-18T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/29484-european-central-bank-holds-rates-says-domestic-price-pressures-high
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Expected policy easing later in 2024 points to a softer euro over time, which can lift euro-zone feed and grain import costs in dollar terms.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-09-12 | [European Central Bank cuts interest rates again and lowers growth forecasts](https://feedsoft.ai/events/28530-european-central-bank-cuts-interest-rates-again-and-lowers-growth-forecasts.md) | +0.9% | -0.6% |
| EURUSD | 2019-10-29 | [Draghi leaves Lagarde to heal rift at European Central Bank \| Reuters](https://feedsoft.ai/events/56784-draghi-leaves-lagarde-to-heal-rift-at-european-central-bank-reuters.md) | +0.5% | -0.7% |
| EURUSD | 2023-10-26 | [ECB holds interest rates steady after 10 consecutive hikes](https://feedsoft.ai/events/33843-ecb-holds-interest-rates-steady-after-10-consecutive-hikes.md) | -0.4% | +3.3% |
| EURUSD | 2024-07-26 | [How long can the Central Banks’ divergence last \| Amundi Research Center](https://feedsoft.ai/events/29488-how-long-can-the-central-banks-divergence-last-amundi-research-center.md) | -0.7% | +2.3% |
| EURUSD | 2026-02-05 | [ECB holds rates but it's not a 'non-event,' economists say. Here's why](https://feedsoft.ai/events/20807-ecb-holds-rates-but-it-s-not-a-non-event-economists-say-here-s-why.md) | +0.7% | -1.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/07/18/european-central-bank-holds-rates-says-domestic-price-pressures-high.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.