Denmark's central bank cut its key policy interest rate by 25 basis points to 2.85% on Thursday as expected, following the European Central Bank's decision earlier in the day to reduce euro zone rates.

European Central Bank cuts its main interest rate by a quarter-point to 3.25% as inflation falls below its target

The European Central Bank's governing council Thursday cut three key interest rates by 25 basis points, based on inflation falling.

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is expected to cut borrowing costs once again on Thursday after figures showed inflation across the bloc falling to its lowest level in more than three years and economic growth waning.

The ECB said inflation was under control - having fallen sharply following a painful spike in the wake of Covid lockdowns and the invasion of Ukraine.