From the Editor

We spent this week arguing, politely and at length, about which story belonged at the top of today's paper. The central bank pause matters. So does the ceasefire. In the end, the pause won because it is the story most likely to change what our readers do on Monday morning.

"A newspaper is a promise you keep every day, and then keep again tomorrow."

— Halina Novak

Elsewhere: our economics desk on the labour data (p.4), an interview with the Seville mayor (p.6), and — new this weekend — a Culture pull-out that begins on page 11.