Lagarde Says ECB in ‘Wait-and-See’ Mode After Holding Rates

President Christine Lagarde said the European Central Bank is in a “wait-and-see” mode after leaving interest rates unchanged for the first time in more than a year amid the US trade uncertainty.

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.