The European Central Bank (ECB) decided Thursday to keep interest rates unchanged, following eight consecutive cuts over the past year, as Brussels and Washington continue to negotiate a new trade deal.

In a statement, the ECB’s Governing Council confirmed it would maintain the main borrowing rate at 2%, the main refinancing operations rate at 2.15%, and the marginal lending facility rate at 2.4%.

The bank noted that recent economic data broadly align with its previous inflation outlook, citing declining domestic price pressures and a slowdown in wage growth across the eurozone.

Despite global economic uncertainty, the euro area economy has shown relative resilience, supported in part by the impact of previous rate cuts, the ECB added.

The decision comes as EU-U.S. trade negotiations intensify, with interest rate stability seen as a factor in maintaining monetary confidence amid external economic pressures.