European Central Bank policymakers were unanimous in approving an interest rate cut on Thursday, as even some of the more hawkish rate setters agreed that a global trade war has significantly altered the outlook, a source told Reuters.

Some ECB policymakers had made the case for a pause in April in the past, but they dropped those arguments after erratic trade measures by the U.S. set off volatility in global financial markets, the source said.

An ECB spokesperson declined to comment.

(Reporting by Balazs Koranyi and Francesco Canepa; Editing by Sharon Singleton)