Central bank shuns calls to reduce borrowing costs as higher US tariffs loom
Business live – latest updates
The European Central Bank has kept interest rates on hold as figures showed the eurozone economy maintaining a steady pace of economic growth amid low inflation.
In what was widely expected to be a pause before further cuts later in the year, the Frankfurt-based central bank shunned calls to reduce the cost of borrowing and held its main interest rate at 2% and the deposit rate at 2.15%.
The ECB’s president, Christine Lagarde, said the eurozone was in “a good place” and that the cost of living crisis was in the past. “Our job is now to look at what is coming,” she added.
