The European Central Bank left interest rates unchanged on Thursday after cutting eight times in a year, biding its time while Brussels and Washington negotiate over trade. Its main policy rate is currently at 2% down from 4% a year ago, and inflation is back at the ECB's 2% goal.

The central bank said it would lower its benchmark rate to 43% from 46%, restarting an easing cycle that had been disrupted by a political furor.

Turkey's central bank on Thursday cut its key interest rate by three points points to 43%, returning down the path of monetary easing. The step marked the first rate reduction since April, when the bank hiked rates to 46% in the wake of the controversial arrest of Istanbul Mayor Ekrem Imamoglu, which sent the Turkish lira tumbling.