The ECB has chosen to hold its key interest rates steady, adopting a more cautious and optimistic stance as inflation continues to approach its 2% target. As explained, the ECB regarded its prevailing monetary policies as sufficiently restraining and tending to push inflation back down to target over a period of time. The ECB’s centre has also said that the eurozone growth macroeconomic projections remain relatively unchanged, and with downside risks. Policy transmission and financial conditionsThe ECB also stated that monetary policy transmission is on course as expected. Currently, the ECB appears to be keeping its predicted stance on the price policy and the changing economic conditions.