# ECB snaps rate-hike streak, pushes back on talk of cuts | Reuters

> The European Central Bank held its deposit rate at a record 4% on October 26, ending a run of 10 consecutive hikes that began in July 2022. It said inflation is still expected to stay too high for too long, though underlying measures have eased. Markets had priced in a near-certain hold.

- Date: 2023-10-26 · published 2023-10-26T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/33839-ecb-snaps-rate-hike-streak-pushes-back-on-talk-of-cuts-reuters
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A pause removes a source of euro support and keeps the rate gap with the US wide, which weighs on the euro and makes dollar-priced imported feed ingredients slightly cheaper for US buyers. The price effect is modest.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-10-26 | [ECB raises interest rates again, cuts bank subsidies \| Reuters](https://feedsoft.ai/events/39359-ecb-raises-interest-rates-again-cuts-bank-subsidies-reuters.md) | -0.9% | +4.1% |
| EURUSD | 2025-09-11 | [Traders raise bets that the ECB is done cutting rates \| Reuters](https://feedsoft.ai/events/23093-traders-raise-bets-that-the-ecb-is-done-cutting-rates-reuters.md) | +1.1% | -0.9% |
| EURUSD | 2024-09-12 | [ECB dents traders' hopes for October rate cut](https://feedsoft.ai/events/28527-ecb-dents-traders-hopes-for-october-rate-cut.md) | +0.9% | -0.6% |
| EURUSD | 2024-09-12 | [VIEW ECB delivers second rate cut of the year](https://feedsoft.ai/events/28528-view-ecb-delivers-second-rate-cut-of-the-year.md) | +0.9% | -0.6% |
| EURUSD | 2021-07-08 | [ECB tweaks inflation target, bolsters climate role \| Reuters](https://feedsoft.ai/events/46296-ecb-tweaks-inflation-target-bolsters-climate-role-reuters.md) | +0.2% | +0.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/ecb-hold-rates-may-discuss-quicker-bond-portfolio-run-off-2023-10-25/

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