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The European Central Bank (ECB) has cut interest rates by 0.25% on deposit facility, following a period of weak European economic growth.
The rate now stands at 3.5%, down from 3.75%, after the bank last cut the rate in in June.
The bank was widely expected to make the cut due to slow economic growth and to encourage inflation to continue to cool back towards its target of 2%.
Markets are now waiting to see whether the bank will pause interest cuts at its next meeting in October, as happened in July, before considering another cut in December.
The UK’s Bank of England and the US Federal Reserve are both expected to cut interest rates next week.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
