The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a large hit from U.S. tariffs. The ECB has been lowering borrowing costs as post-pandemic price pressures retreat,

The ECB reduced its deposit rate by 25 basis points to 2.25%, while the main refinancing rate dropped to 2.40% and the marginal lending facility was lowered to 2.65%. The move comes amid growing concerns that ongoing trade tensions and volatile market conditions could significantly dampen household and business confidence across Europe.