The European Central Bank left interest rates unchanged at its first policy meeting of 2026, in line with expectations, as policymakers signaled confidence that inflation is gradually converging toward the 2% target. The main refinancing rate stayed at 2.15%, while the deposit rate remained at 2.0% and the marginal lending facility at 2.4%, confirming a pause after last year’s easing cycle.

The dollar index climbed above 97.5, reaching a near two-week high as expectations shifted toward a slower pace of Federal Reserve easing.