The European Central Bank left interest rates unchanged on Thursday and offered a modestly upbeat assessment of the euro zone economy, raising doubts among investors about further policy easing even while U.

Inflation is “more uncertain than usual due to trade tensions,’’ Lagarde said at a press conference following the ECB meeting. Related: Former Fed Chair sends stern message

There’s little reason for the European Central Bank to lower interest rates further unless the economy suffers a major blow, according to Governing Council member Martins Kazaks.