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European Central Bank Holds Interest Rate Steady, Monitors Progress of US-EU Trade Negotiations
BlockBeats News, July 24th - The European Central Bank (ECB) on Thursday kept its key interest rate unchanged at 2%, as it awaited clearer signals on the direction of EU-US trade relations. Current inflation has fallen back to the 2% target level, and the rate has been lowered from 4% to 2% since June last year. The policy pressure on the ECB has eased significantly. The ECB stated that it would continue to adhere to a "step-by-step meeting" policy, without predefining the interest rate path, with all decisions based on the latest data.
The statement indicated that the latest information broadly aligns with previous judgments on the inflation outlook, with domestic price pressures continuing to ease and wage growth slowing. The market is still betting on at least one more rate cut later this year. Market focus has shifted to President Lagarde's later press conference, where she is expected to face intense questioning about whether to continue cutting rates in the future, the strength of the euro exchange rate, and the impact of tariffs. (Jinse Finance)
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