The ECB's governing council held the deposit facility rate at 2.25%, with the main refinancing rate staying at 2.4% and the marginal lending facility at 2.65%. Monetary policy for the eurozone is set through these three key interest rates, with the deposit facility rate serving as the main benchmark. "Uncertainty remains high and the full inflationary impact of the energy shock has yet to play out. The decision follows confirmation last week that eurozone inflation eased to 2.8% in June from May's 3.2%, the first decline this year, with core price growth slowing to 2.4%. The complication is that the shock behind June's hike is back.