The European Central Bank has held its benchmark interest rate steady at 2 per cent as policymakers await the August 1 deadline for a trade deal between the EU and the US.
The decision was widely expected by economists after ECB president Christine Lagarde said last month that the central bank had “nearly concluded” its latest rate-cutting cycle and strongly hinted that policymakers would switch to a wait-and-see approach.
“Domestic price pressures have continued to ease, with wages growing more slowly,” the central bank said on Thursday. It added that, partly because of previous rate cuts, the Eurozone economy “has so far proven resilient overall in a challenging global environment”.
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