ECB holds deposit rate at 2% for 3rd straight meeting
The European Central Bank (ECB) is keeping its deposit rate at 2%—that's three meetings in a row without a change.
Why? The eurozone economy is holding up, with steady growth, low inflation, and a strong job market.
The ECB says solid private sector finances are helping keep things stable.
Bank not ignoring global risks
Inflation has been hovering right around the ECB's 2% target for months, which made it easier to stick with the current rate.
Still, the bank isn't ignoring bigger worries like trade tensions and global conflicts that could shake things up.
Earlier rate cuts are seen as an important source of resilience for the 20 euro-using countries.
What does it mean for markets?
Markets barely reacted—just a tiny dip in the euro and a small bump in German bond yields.
After eight straight cuts, officials hint this might be the end of easy money for now (unlike in the US, where rates just dropped again).
More details were expected from ECB President Christine Lagarde at her Florence press conference.