Worries about economic growth fueled by U.S. President Donald Trump's tariff onslaught will likely push the European Central Bank to cut interest rates on Thursday for a seventh straight time, a move that should make credit more affordable for business and consumers and promote economic activity.

South Korea's central bank on Thursday signalled it would cut rates in May and left the door wide open to further monetary easing to cope with "significant" risks to the economy from U.S. President Donald Trump's sweeping tariff policy.