The ECB cut interest rates for the eighth time in the past year and signalled at least a pause in policy easing next month since inflation was now safely back at its 2% target after three years of overshooting.

Europe has succeeded in bringing inflation under control after a surge driven by the end of the Covid-19 pandemic and Russia’s invasion of Ukraine, the head of France’s central bank said.

European Central Bank (ECB) policymaker Isabel Schnabel warned on Saturday that U.S. tariffs under a potential Trump administration could trigger renewed inflationary pressures, despite recent progress in