The European Central Bank cut interest rates for the sixth time in nine months on Thursday, sticking to its easing plan in the face of economic upheaval from an unfolding trade war and new plans to boost Europe's military spending.

Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: Good afternoon, the Vice-President and I welcome you to our press conference.

The European Central Bank decrees its fifth consecutive interest rate cut, sets the price of money at 2.5%, and anticipates that the next monetary decisions are not at all clear. Huge uncertainty". "Uncertainty everywhere".

The European Central Bank on Thursday cut interest rates by a quarter-point, responding to signs of deteriorating activity and weakening inflation despite bond-market turmoil over plans for a splurge of spending.

The European Central Bank doesn’t have a role in helping governments finance more defense spending and will stick to its mission of price stability, President Christine Lagarde said.

The central bank for the 20 countries that use the euro has pivoted from hiking rates to tackle inflation, which surged with Russia’s invasion of Ukraine, to lowering them to boost the eurozone’s flou

European Central Bank policymakers see a growing chance of a pause in their easing cycle at their next meeting before rates come down again, once they have greater clarity about trade and fiscal policy,

The European Central Bank cut interest rates as expected on Thursday and kept the door ajar to more, even as a looming trade war with the United States and plans to boost military spending drive Europe's biggest economic policy upheaval in decades.