The European Central Bank left its benchmark interest rate on hold at 2.25%, as expected, citing that uncertainty remains high. The central bank, which lifted rates by a quarter point in June, also noted that while eurozone inflation declined last month to 2.8%, from May’s 3.2%, the effects of the Middle East conflict are likely to keep inflation above the 2% target into the first half of 2027. While the decision to keep rates steady was unanimous, ECB President, Christine Lagarde said “there were some governors who asked themselves whether we should not consider a hike”. [....]