“Inflation is currently at the 2% medium-term target,” it said in a statement. “The economy has so far proven resilient overall in a challenging global environment. At the same time, the environment remains exceptionally uncertain, especially because of trade disputes.”
The European Central Bank kept interest rates unchanged for the first time in more than a year after inflation hit 2% and messy trade negotiations with the US continued to cast a shadow over the economy.
The deposit rate was left at 2% on Thursday — as predicted by the overwhelming majority of analysts in a Bloomberg survey. Still lacking clarity on the eventual level of tariffs, the ECB offered no guidance on future steps.
