ECB leaves interest rates unchanged as it assesses impact of Trump tariffs

President of the European Central Bank Christine Lagarde. Picture: Michael Probst/AP

The European Central Bank has left interest rates unchanged as it waits to see how big a blow US President Donald Trump’s tariffs will inflict on the economy before deciding whether to cut rates again.

The bank’s governing council announced on Thursday at its headquarters in Frankfurt that it would leave its benchmark deposit rate at 2%.