ECB Keeps Interest Rates on Hold and Traders Rule Out More Cuts

The European Central Bank kept borrowing costs unchanged for a second meeting, deeming inflationary pressure contained and economic dangers abating. Investors concluded that there’ll be no more cuts.

The deposit rate was left at 2% on Thursday – as predicted by all analysts in a Bloomberg survey. Policymakers offered no guidance on future steps, continuing to stress that they’ll act one meeting at a time based on incoming data.