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, 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.

In Europe, where inflation has cooled sharply, the economy is weak and could use a boost. The area is vulnerable to the conflicts around it.