Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: Good afternoon, the Vice-President and I welcome you to our press conference.

During the press conference, ECB President Christine Lagarde indicated that the central bank's macro assessment had hardly changed from its December meeting. The ECB still sees the disinflationary process on track and expects a pick up in demand, though it acknowledges the near-term weakness of the eurozone economy.

After lowering key rates in December, the ECB is widely expected to announce another 25 basis points (bps) cut, taking the benchmark rate on deposit facility from 3% to 2.75%. It would be the fourth straight interest rates cut after trimming them in September, October and December 2024.

The European Central Bank is widely expected to cut interest rates for the fifth time since it began easing monetary policy.

Central bank independence is being challenged in parts of the world and greater political influence could undermined banks' ability to keep inflation down, risking economic volatility, European Central Bank President Christine Lagarde said on Monday.

Despite US President Donald Trump's sabre-rattling, the European Central Bank is set to press on with interest rate cuts Thursday as officials increasingly voice confidence that the fight against inflation is on track.

KIRILL KUDRYAVTSEV / AFP The European Central Bank cut interest rates again Thursday, January 30, and signaled more to come as the eurozone economy flatlines while warning of trade tensions and uncertainty amid American President Donald Trump's protectionist agenda.

The European Central Bank is set to lower interest rates for a fifth meeting as inflation that’s nearing the 2% target lets officials further loosen the shackles on the economy.

"If trade tensions don't escalate, exports should support recovery as global demand rises."