Watch: ECB President Christine Lagarde speaks after rate decision

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European Central Bank President Christine Lagarde is giving a press conference following the bank’s latest monetary policy decision.

Follow CNBC’s ECB live blog here.

The European Central Bank announced a 25-basis-point interest rate cut on Thursday, as expected, in its fifth reduction since the central bank began easing monetary policy in June last year.

The reduction brings the ECB’s deposit facility, its key rate, to 2.75%. Markets had been pricing in an over 90% chance of a 25-basis-point cut ahead of the announcement.

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