The European Central Bank's cut interest rates for the seventh time in a year.
It reduced rates by a quarter of a per cent.
The move benefits tracker mortgage holders immediately and puts pressure on banks to reduce other rates.
President of the ECB, Christine Lagarde is warning trade tensions are having an impact on the Eurozone economy:
"The Euro area economy has been building up some resilience against global shocks. But the outlook for growth has deteriorated owing to rising trade tensions, increased uncertainty is likely to reduce confidence among householders and firms"
