India, April 17 -- The euro declined against its most major counterparts in the New York session on Thursday, as the European Central Bank slashed its key interest rates by a quarter basis point and warned of 'deteriorated' growth outlook due to trade tensions.
The Governing Council, led by ECB President Christine Lagarde, cut the deposit rate by 25 basis points to 2.25 percent.
The main refinancing rate was lowered by similar volume to 2.40 percent and the marginal lending rate to 2.65 percent.
"Most measures of underlying inflation suggest that inflation will settle at around the Governing Council's 2 percent medium-term target on a sustained basis," the ECB said.
"The euro area economy has been building up some resilience against glo...