The European Central Bank cut interest rates Thursday for the seventh time to counter worries about economic growth fueled by President Donald Trump’s tariff onslaught. The bank’s move should support economic activity in the 20 countries that use the euro currency by making credit more affordable for consumers and

Interest rates were reduced from 2.5% to 2.25%, marking the seventh consecutive cut, following the meeting of the Frankfurt-based institution on Thursday. The ECB believes that the tariffs will be 'negative' for European growth.

Policymakers lowered rates a quarter point and said that the region’s growth outlook had “deteriorated” because of rising trade tensions.