European Central Bank holds interest rates

The European Central Bank held interest rates steady on Thursday amid significant economic uncertainty and ongoing EU‑U.S. trade negotiations. After cutting rates multiple times this year—from 3% in January to 2% in June—the ECB paused as inflation hit its 2% target last month. ECB officials suggest inflation control efforts are nearly complete but remain cautious about medium‑term risks, while the future of EU‑U.S. trade remains uncertain with potential tariffs looming.