The European Central Bank held interest rates steady on Thursday amid significant economic uncertainty and ongoing EU-U.S. trade negotiations.

After cutting rates multiple times this year—from 3% in January to 2% in June—the ECB paused as inflation hit its 2% target last month.

The future of EU-U.S. trade remains uncertain, with potential tariffs looming, CNBC has reported.

ECB officials suggest inflation control efforts are nearly complete but remain cautious about medium-term risks.

Written by B.C. Begley