The European Central Bank (ECB) has cut its key interest rate for the eighth time in just over a year as it warned about continuing pressure on the eurozone from Donald Trump's tariffs. The main rate has been reduced from 2.

The European Central Bank cut interest rates by a quarter-percentage point for the eighth time this cycle on Thursday, the latest attempt to help a euro area economy hit by the President Trump's trade war.

It was the eighth rate cut in the past year as officials try to steer Europe’s economy through “exceptional” uncertainty.