The European Central Bank held interest rates steady Thursday after eight consecutive cuts, according to Barron's. ECB President Christine Lagarde said the eurozone economy remains resilient but emphasized a “wait and see” approach, adding the bank is “not pre-committing to a particular rate path." Inflation rose slightly to 2% in June, aligning with the ECB’s target, while the first quarter GDP growth reached 0.6%. Investors now see only a 50% chance of another ECB cut this year, down from full expectations before the meeting. The Federal Reserve has kept rates unchanged since December, prompting criticism from Trump, who has pointed to the ECB’s easing as a contrast to Chair Powell’s caution. Markets currently see a 58% chance of a U.S. rate cut in September and a 97% chance of no change in July.
