The U.S. dollar edged higher against some of its peers including the yen and euro on Thursday as markets weighed fresh tariff threats, slower-than-expected U.S. economic growth, and an interest rate cut by the European Central Bank.

On Bitcoin, Lagarde’s Czech counterpart Ales Michl yesterday said that his institution will assess whether to hold part of its foreign reserves in Bitcoin. In the US, President Trump has backed the idea of a strategic national Bitcoin reserve.

The European Central Bank is set to lower interest rates for a fifth meeting as inflation that’s nearing the 2% target lets officials further loosen the shackles on the economy.

The European Central Bank lowered its interest rates for a fourth policy session in a row on Thursday and is likely to opt for more

European shares reached a record high on Thursday, driven by industrials and technology stocks, as investors awaited the European Central Bank's monetary policy verdict, which is likely to include an interest rate cut.

The ECB is expected to drop its main lending rate from 3 per cent to 2.75 per cent, its fifth cut since last July.

ECB cuts the deposit rate by a quarter point to 2.75 per cent as expected and offers little shift in tone from December as it continues to move policy away from restrictive territory

The ECB is expected to cut rates by 25bps to 2.75% on Thursday as inflation nears 2% and growth remains weak. Analysts see further cuts in 2025, but US trade tariffs could add uncertainty.

The European Central Bank may stop describing its monetary policy stance as “restrictive” at its next decision in March, according to people familiar with the Governing Council’s debate.

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During the press conference, ECB President Christine Lagarde indicated that the central bank's macro assessment had hardly changed from its December meeting. The ECB still sees the disinflationary process on track and expects a pick up in demand, though it acknowledges the near-term weakness of the eurozone economy.