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

Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.

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.