The ECB held its deposit rate steady at 2.00% today, as expected, pausing its easing cycle after a string of cuts since June 2024. In its statement, the central bank reiterated that it will remain “data-dependent” and take a “meeting-by-meeting”. It emphasized that approach, the Governing Council is “not pre-committing to a particular rate path”.
Policymakers noted that incoming data is “broadly in line” with prior assessments, with domestic price pressures continuing to ease and wage growth slowing. However, the ECB flagged “exceptionally uncertain” global conditions, citing persistent trade disputes as a key risk.
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