The European Central Bank cut interest rates on Thursday and kept the door open to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation. Following are highlights of ECB President Christine Lagarde's comments at a news conference after the policy meeting.

Against this backdrop, the ECB’s communication in the policy statement and President Lagarde’s comments will hold the key to determining the scope and timing of the next rate cuts as the Bank battles concerns over economic growth and potential tariffs by United States (US) President Donald Trump’s administration.

The European Central Bank is widely expected to cut interest rates for the fifth time since it began easing monetary policy.

The European Central Bank lowered borrowing costs for a fifth time since June, with the region’s economy stalling and the 2% inflation target in reach.

ECB chief Christine Lagarde (pictured) said the single currency bloc was 'set to remain weak in the near term' as the rate was cut from 3% to 2.75%.