Europe's inflation held steady in August as European Central Bank keeps an open mind on rates

Inflation paused its decline in Europe in August. The reading of 5.3% held steady from July. That's down from the double-digit peak in October. But it's still too high for the European Central Bank. The ECB has been steadily raising rates to push inflation down to its target of 2%. Bank head Christine Lagarde has said the decision at the Sept. 14 meeting remains open and will be decided based on incoming data - a switch from a year of steady, pre-announced rate rises.