The European Central Bank yesterday joined the bond market in reasserting the belief that the path of least resistance for the price of money, if not lower is at least sideways. The ECB kept its key interest rate at 2% yesterday, despite predictions by some pundits that monetary easing was imminent on the Continent. Standing pat at the ECB comes in the wake of the 25-basis-point hike in fed funds to 3.25% on June 30.