Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: Good afternoon, the Vice-President and I welcome you to our press conference.

The European Central Bank on Thursday cut interest rates by 25 basis points, with the bloc's growth prospects in focus following tariff threats from U.S. President Donald Trump. This brings the ECB's deposit facility rate, its key rate, to 2.5% — a move that markets had widely priced in before the announcement.

The European Central Bank (ECB) on Thursday lowered its three key interest rates by 25 basis points, meeting market forecasts. This marked the fifth consecutive rate cut since the ECB initiated its easing cycle last June. The key deposit rate now stands at 2.50%, its lowest level since early 2023.

Inflation in Europe eased to 2.4% in February, supporting the case for another interest rate cut from the European Central Bank but leaving open how far the central bank will go in lowering borrowing costs.

The ECB is due to meet on Wednesday and Thursday this week to discuss future interest rate cuts. Inflation across the eurozone dropped slightly during February to 2.4%, according to the latest flash estimate from Eurostat,

The U.S. dollar hits a 3-month low as tariffs on Canada, Mexico, and China take effect. Weak data and falling bond yields add pressure. Will NFP data shift momentum?