The European Central Bank is cutting its benchmark interest rate for an eighth time, aiming to support businesses and consumers with more affordable borrowing as U.S.

If the European economy weakens further then the European Central Bank might cut interest rates again, policymaker Yannis Stournaras told Bloomberg TV in an interview on Friday, adding that "this is not expected".

The ECB’s rate cuts have drawn the attention of President Trump, who has criticized the more cautious stance of Federal Reserve Chair Jerome Powell.