ECB minutes reveal close vote on interest rates in April

The European Central Bank's meeting minutes published on Thursday indicate that the decision to maintain the key deposit interest rate at 2% in April was a close call. The Frankfurt-based institution has kept rates at this level since June of the previous year. Policymakers noted that several members would not have opposed an immediate rate hike during the session. The decision to hold rates steady was conditional upon the bank explicitly emphasizing its commitment to monitoring price developments and stabilizing inflation. Analysts and market participants anticipate potential interest rate increases later this year. Factors driving these expectations include rising energy prices caused by the conflict in the Middle East and the near-total closure of the Strait of Hormuz by Iran. While evidence of secondary inflation effects such as wage increases remains limited, the central bank appears to be preparing for a more restrictive monetary policy stance.