ECB Holds Rates at 4% Despite Cooling Inflation, Cites Still-High Prices and Wages For Decision

• European Central Bank keeps interest rates steady at 4%, the highest in its history • Cites still high domestic price pressures and wage growth as reason not to cut rates yet • Inflation has eased to 2.6%, moving closer to 2% target • ECB lowered inflation forecasts - sees 2% target being met in 2025 • ECB president says more evidence of slowing inflation needed before rate cuts