The ECB cut interest rates by 25 basis points and updated the language in its decision to say monetary policy was becoming "meaningfully less restrictive."

Denmark's central bank cut its key interest rate by 25 basis points to 2.10% on Thursday, following the European Central Bank's decision earlier in the day to cut euro zone rates.

The European Central Bank has cut interest rates by another quarter percentage point, lowering credit costs for consumers and businesses to support an economy that is struggling to show solid growth.