The European Central Bank is set to cut interest rates again on Thursday in what is likely to be its last easy decision for a while as trade wars and rearmament drive the continent's biggest economic policy upheaval in decades.

The ECB’s rate-setting council lowered its benchmark deposit rate to 2.5%. That should provide support for growth by making it cheaper to borrow and buy a house or expand a factory. The rate was raised to a record 4% to combat inflation that reached 10.6% in Oct. 2022, but has been reducing it steadily since June.

The news that the European Central Bank has cut interest rates for the sixth time in the past 12 months is a positive development for Irish consumers and businesses.