突发！暂停降息

Core Viewpoint - The European Central Bank (ECB) decided to maintain interest rates unchanged amidst a 2% inflation rate and uncertainties surrounding U.S. trade negotiations, marking the first such decision in over a year [2][6]. Group 1: Interest Rate Decision - The ECB's deposit rate remains at 2%, aligning with the expectations of most analysts [2]. - The decision comes after eight rate cuts since June 2024, raising questions about whether the easing cycle has ended or if further cuts are forthcoming [2][6]. - ECB President Christine Lagarde indicated that the bank is well-positioned to address challenges beyond trade disputes, such as a strengthening euro and upcoming public spending increases [2][6]. Group 2: Economic Context - The ECB noted that despite global challenges, the Eurozone economy shows resilience, with inflation currently at the mid-term target of 2% [7][8]. - External uncertainties, particularly trade disputes, continue to pose risks to economic stability [8][9]. - The ECB's future monetary policy adjustments will depend on data assessments and will follow a "meeting-by-meeting" decision-making approach [9]. Group 3: Market Reactions - Following the ECB's announcement, there were no significant changes in the euro exchange rate or stock markets [3]. - The euro has appreciated over 13% against the dollar this year, which may exert new pressures on inflation and consumer price growth [6].