The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figure

The European Central Bank is widely expected to announce its third interest rate cut of the year at its Thursday meeting, after policymakers flagged reduced inflation risks and a weakening growth outlook.

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