Heard on the Street: ‘Data-Dependent’ ECB Is Mostly Following the Fed

A big question in markets this year has been whether the world’s top central banks, each grappling with different economic challenges, will also make different decisions. The European Central Bank’s latest answer is “no.” The euro and European bond yields [dropped today](https://ift.tt/1Vra5iQ) after officials opted to keep interest rates in the single-currency bloc unchanged, after 10 consecutive increases. This was broadly expected, and comes only a week after [the Federal Reserve signaled](https://ift.tt/TrOW5D1) that U.S. would also holds at its current level for now.