The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figure

Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.

European Central Bank cuts its main interest rate by a quarter-point to 3.25% as inflation falls below its target

In Europe, where inflation has cooled sharply, the economy is weak and could use a boost. The area is vulnerable to the conflicts around it.

The interest rate cut is the European Central Bank's third since June and shows optimism among rate-setters over the path of inflation.

The European Central Bank is widely expected to announce its third interest rate cut of the year at its Thursday meeting, after policymakers flagged reduced inflation risks and a weakening growth outlook.

After peaking at 4%, the ECB’s benchmark deposit rate sits at 3.25% following the latest cut. Read more at straitstimes.com.

Denmark's central bank cut its key policy interest rate by 25 basis points to 2.85% on Thursday as expected, following the European Central Bank's decision earlier in the day to reduce euro zone rates.