00:00The European Central Bank cut interest rates for the seventh time this year
00:05to counter-worries about economic growth fueled by geopolitical tensions.
00:13Citing Russia's invasion of Ukraine and conflict in the Middle East,
00:17the benchmark interest rate was cut by a quarter of a point.
00:23The major escalation in global trade tensions and associated uncertainties
00:28will likely lower euro area growth by dampening exports.
00:35And it may drag down investment and consumption.
00:42The bank's decision comes as global trade tensions,
00:45driven by US President Donald Trump's tariff,
00:48pose a risk to eurozone growth,
00:50adweighing concerns of an inflationary spike.
00:58The US President since COVID-19 is expected and the science to bridge part
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