The European Central Bank lowered interest rates by a quarter point and signaled more rate cuts to come, aiming to bolster a stagnant eurozone economy that is highly exposed to the trade tariffs threatened by President Trump.

The ECB reduced its key interest rate to 2.75% from 3% Thursday, widening a gap in benchmark borrowing costs with the Federal Reserve. It was the fifth cut in six meetings and came hours after the Fed held its policy rate steady at 4.25% to 4.5%.