Economists at the European Central Bank said the neutral rate of interest, a concept that may help determine where cuts in borrowing costs will end, is probably between 1.75% and 2.25%.

The European Central Bank cut interest rates as expected on Thursday and kept more easing on the table, sticking to its view that inflation in the euro zone is increasingly under control despite concerns about global trade.

The central bank cut rates by a quarter point, as it rushes to brace a stagnant economy against President Trump’s threatened tariffs.

The European Central Bank will scrutinize economic data when deciding how far to lower borrowing costs, and won’t spend too much time thinking about the so-called neutral rate that’s often touted as a guiding star,

The European Central Bank is all but certain to cut interest rates on Thursday and is likely to keep open the door to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation.