The European Central Bank Keeps Interest Rate Unchanged at 2% as Scheduled

BlockBeats News, September 11th, the European Central Bank (ECB) held its benchmark interest rate steady at 2% for the second consecutive meeting, with officials assessing the impact of the trade agreement between the EU and the US. Thursday's decision was in line with economists' expectations, with ECB President Lagarde stating that after eight rate cuts since last year, the rate-setters have shifted to a "wait-and-see" mode.

Berenberg Bank economist Felix Schmidt had noted before the decision that the ECB "has no need to change its monetary stance." He added that the euro area economy has "proved to be more resilient than expected," with inflation also under control. (FXStreet)