Lagarde Plays Down Impact of Euro Rally as ECB Holds Rates

The European Central Bank kept interest rates unchanged, with President Christine Lagarde downplaying the recent euro rally and again describing inflation as being in a “good place.”

The deposit rate was left at 2% on Thursday — as predicted by all economists in a Bloomberg survey. The ECB called the economy “resilient” but didn’t offer guidance on future steps, reaffirming that incoming data will steer decision-making.