Denmark's central bank cut its key interest rate by 25 basis points to 1.85% on Thursday, following the European Central Bank's decision earlier in the day to cut euro zone rates.

Worries about economic growth fueled by U.S. President Donald Trump's tariff onslaught will likely push the European Central Bank to cut interest rates on Thursday for a seventh straight time, a move that should make credit more affordable for business and consumers and promote economic activity.

The central bank cut by a quarter of a percentage point to cushion Europe’s flagging economy from Trump’s trade war.