European Central Bank stands firm as it holds interest rates at 3.75%

Follows June cut

The European Central Bank has voted to keep its interest rates steady at 3.75%, meeting market expectations.

In a press conference today (18 July), the central bank's president Christine Lagarde said the decision to hold rates was "unanimous".  Despite the ECB's decision to cut rates in June, Lagarde has repeatedly made the case that the first cut was not a catalyst for frequent further trimming.  At the ECB forum of central banking on 1 July, Lagarde said "it will take time for us to gather sufficient data to be certain that the risks of above-target inflation have passed". Fed postpones rate cut until 'greater confidence' in sustainable inflation levels In today's announcement, the E...