The European Central Bank left interest rates unchanged Thursday with inflation back under control and the economy weathering Trump’s tariff onslaught better than expected.

The bank’s rate-setting council left its benchmark deposit rate unchanged at 2% at a meeting at its skyscraper headquarters in Frankfurt.

The focus in Europe has shifted to the fiscal crisis in France and any possible role for the ECB in containing potential market turmoil that could erupt from the country’s out-of-control deficit and political logjam.

Bank President Christine Lagarde said after the rate decision that monetary policy was “in a good place” and that decisions are being made “meeting by meeting.” She gave no hint of future moves, saying the bank is “not on a predetermined path.”

The ECB is standing pat

See Full Page