The European Central Bank cut interest rates again on Thursday but warned of "phenomenal uncertainty" including the risk that trade wars and more defence spending could fuel inflation, raising the prospect of a pause in its policy easing next month.

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.

The European Central Bank cut interest rates as expected on Thursday (Mar 6) and kept the door ajar to more, even as a looming trade war with the US and plans to boost military spending drive Europe’s biggest economic policy upheaval in decades.