The European Central Bank has held its benchmark interest rate at 2 per cent for the second consecutive meeting as officials assess the impact of the trade deal between the EU and the US.
Thursday’s decision was in line with economists’ expectations and came after ECB president Christine Lagarde said in July that rate-setters had switched to a “wait-and-watch” mode after reducing borrowing costs eight times since last year.
The central bank had “no need to change its monetary stance”, Felix Schmidt, Berenberg economist, noted ahead of the decision, adding that the Eurozone economy had “proved to be more resilient than expected”, while inflation was under control.
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