The Atlantic coastal town of Sines is best known as the birthplace of Vasco da Gama, the Portuguese explorer who forged the first maritime trade route from Europe to Asia. Centuries later, Sines is now an example of the shift in Europe’s engagement with Beijing as the continent adapts to a world dominated by US-China rivalry.
Aside from the ECB, central bankers in Nigeria, Paraguay, Sri Lanka and Ukraine also kept interest rates unchanged. In Turkey and Russia, officials delivered sizable rate cuts.