Bloomberg

ECB Keeps Rates Unchanged to Wait for Clarity on US Tariffs

Breitbart

Europes central bank to hold off on another rate cut until it knows how bad the tariff blow will be

Metaculus

Eurozone Annual Real GDP Growth

Reuters

Upbeat Ecb Keeps Rates Steady Raising Doubts About Further Easing 2025 07 23

Wall Street Journal

Higher Tariffs Would Likely Spur Ecb To Further Cut Rates C050Eae

Ecb Holds Rates Steady As U Tariff Negotiations Cloud Outlook 1496189

The European Central Bank (ECB) kept its key deposit rate unchanged at 2% on Thursday, ending a streak of eight consecutive rate cuts since June 2024 that reduced borrowing costs from a record high of 4%.

The Canadian Press

The European Central Bank (ECB) kept its key deposit rate unchanged at 2% on Thursday, ending a streak of eight consecutive rate cuts since June 2024 that reduced borrowing costs from a record high of 4%.

Eurozone inflation reached the ECB's 2% target in June, down from double-digit peaks in late 2022, while economic growth was 0.6% in the first quarter of 2025, partly due to companies rushing shipments to avoid potential tariffs.</span

Euractiv

EuroNews

Eurozone inflation reached the ECB's 2% target in June, down from double-digit peaks in late 2022, while economic growth was 0.6% in the first quarter of 2025, partly due to companies rushing shipments to avoid potential tariffs.

US President Donald Trump threatened to impose 30% tariffs on EU goods by an August 1 deadline, though negotiations are reportedly progressing toward a potential 15% tariff agreement between the trading partners.

Financial Times

France 24

US President Donald Trump threatened to impose 30% tariffs on EU goods by an August 1 deadline, though negotiations are reportedly progressing toward a potential 15% tariff agreement between the trading partners.

ECB President Christine Lagarde described the economic environment as "exceptionally uncertain" due to trade disputes and said the central bank is in a "wait-and-watch" situation regarding future rate decisions.

New York Times

TheJournal.ie

ECB President Christine Lagarde described the economic environment as "exceptionally uncertain" due to trade disputes and said the central bank is in a "wait-and-watch" situation regarding future rate decisions.

US President Donald Trump threatened to impose 30% tariffs on EU goods by August 1 deadline, though negotiations are reportedly progressing toward a potential 15% tariff agreement between the trading partners.</span

US President Donald Trump threatened to impose 30% tariffs on EU goods by August 1 deadline, though negotiations are reportedly progressing toward a potential 15% tariff agreement between the trading partners.

ECB President Christine Lagarde described the economic environment as "exceptionally uncertain" due to trade disputes and said the central bank is in a "wait and watch" situation regarding future rate decisions.</span

ECB President Christine Lagarde described the economic environment as "exceptionally uncertain" due to trade disputes and said the central bank is in a "wait and watch" situation regarding future rate decisions.

Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September. Guindos has cautioned that second and third quarter growth would likely be "almost flat."

Barron's

Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September.  Guindos has cautioned that second and third quarter growth would likely be "almost flat."

The euro has strengthened 13% against the dollar this year to around $1.17, with ECB Vice President Luis de Guindos warning that rapid moves above $1.20 could become "much more complicated" for the economy.</span

Dw.Com

The euro has strengthened 13% against the dollar this year to around $1.17, with ECB Vice President Luis de Guindos warning that rapid moves above $1.20 could become "much more complicated" for the economy.

Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September. ECB Vice President Luis de Guindos has cautioned that second and third quarter growth would likely be "almost flat."

Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September. ECB Vice President Luis de Guindos has cautioned that second and third quarter growth would likely be "almost flat."

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Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September meeting after trade negotiations conclude.</span

Barron's #

Market expectations show about 50% probability of another quarter-point rate cut by year-end, with most economists predicting any additional reduction would come at the September meeting after trade negotiations conclude.

This pause could be a mistake if trade tensions escalate. Higher tariffs will slam European exporters and drag down growth, making another rate cut inevitable by September. The ECB should have acted preemptively rather than waiting for damage to materialize. Economic momentum is already slowing, and delay risks falling behind the curve.

This pause could be a mistake if trade tensions escalate. Higher tariffs will slam European exporters and drag down growth, making another rate cut inevitable by September. The ECB should have acted preemptively rather than waiting for damage to materialize. Economic momentum is already slowing, and delay risks falling behind the curve.

ECB holds rates at 2%, pauses easing cycle

ECB holds rates with US tariffs decision on horizon

ECB Holds Rates Steady at 2% Amid US Trade Uncertainty

Economic conditions & trends

Europe

Money

Politics

The ECB's pause makes perfect sense given current conditions. Inflation is right at target, the economy shows resilience with solid growth, and unemployment remains historically low. Why rush into more cuts when things are working? The strong euro is actually helping keep import prices down, and waiting for trade clarity is the prudent approach.

The ECB's pause makes perfect sense given current conditions. Inflation is right at target, the economy shows resilience with solid growth, and unemployment remains historically low. Why rush into more cuts when things are working? The strong euro is actually helping keep import prices down, and waiting for trade clarity is the prudent approach.

ECB Holds Rates Steady at 2% Amid US Trade Uncertainty

ECB Holds Rates Steady at 2% Amid US Trade Uncertainty

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ECB Holds Rates Steady at 2% Amid US Trade Uncertainty

ECB Holds Rates Steady at 2% Amid US Trade Uncertainty

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