The European Central Bank (ECB) aims to launch its digital Euro by October 2025, though the final decision depends on lawmakers approval.

The drop points to a continued slump in a sector whose hope for a rebound lies in lower interest rates and a bump in government 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 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.

Germany's plans to drastically increase government spending will be a focus at President Christine Lagarde's 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 cut interest rates again on Thursday but warned of "phenomenal uncertainty" including the risk that trade wars and more defence spending could fuel inflation, raising the prospect of a pause in its policy easing next month.

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

The European Central Bank's Governing Council said Thursday it had decided to lower three key interest rates by a quarter point. The bank cited the "disinflation process" in making the decision.

As investors grappled with a changing world order under Donald Trump, the ECB cut rates in the single currency bloc from 2.75% to 2.5%.

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.

European Central Bank President Christine Lagarde said the risks to economic growth "remain tilted to the downside." Speaking to reporters in Frankfurt, Lagarde also said "most indicators of underlying inflation are pointing to a sustained return of inflation to our 2% medium-term target.