Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: Good afternoon, the Vice-President and I welcome you to our press conference.

The European Central Bank decrees its fifth consecutive interest rate cut, sets the price of money at 2.5%, and anticipates that the next monetary decisions are not at all clear. Huge uncertainty". "Uncertainty everywhere".

The European Central Bank cut interest rates for the sixth time in nine months on Thursday, sticking to its easing plan in the face of economic upheaval from an unfolding trade war and new plans to boost Europe's military spending.

The European Central Bank doesn’t have a role in helping governments finance more defense spending and will stick to its mission of price stability, President Christine Lagarde said.

European Central Bank policymakers see a growing chance of a pause in their easing cycle at their next meeting before rates come down again, once they have greater clarity about trade and fiscal policy,

European Central Bank President Christine Lagarde said the risks to economic growth "remain tilted to the downside." Speaking to reporters in Frankfurt, Lagarde also said "most indicators of underlying inflation are pointing to a sustained return of inflation to our 2% medium-term target.

European Central Bank President Christine Lagarde said on Thursday she expected any decision by Western countries on what to do with currently-frozen Russian assets would take into account international law.