The European Central Bank is leaving interest rates unchanged as it waits to see how big a blow U.S. President Donald Trump’s tariffs will inflict on the economy before deciding whether to cut rates a

The European Central Bank is leaving interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’s tariffs on the economy before deciding whether to cut rates again

The bank’s governing council announced on Thursday at its headquarters in Frankfurt that it would leave its benchmark deposit rate at 2%.

Two former City traders who were at the centre of one of the biggest scandals of the financial crisis have had their convictions quashed following a 10-year fight. Tom Hayes and Carlo Palombo were jailed following trials for manipulating the interest rates used for loans between banks.

Britain’s Supreme Court has quashed the convictions of two financial market traders accused of manipulating benchmark interest rates in one of the biggest scandals to come out of the global financial crisis in 2008.

At a mostly empty courtroom, Boston Municipal Court Chief Justice Tracy-Lee Lyons invoked the Lavallee protocol in dismissing case after case. It requires cases be dropped if a defendant hasn't had an attorney for 45 days and released from custody if they haven't had one for seven days.