The European Central Bank has cut its interest rate by a quarter of a point to 1.25%, from 1.5%.
New ECB president Mario Draghi told a news conference that growth in the eurozone was likely to remain weak.
He said that Europe's financial crisis and a slowdown in global growth meant the euro area faced an "environment of high uncertainty".
Mr Draghi took over as president of the bank this week, replacing Jean-Claude Trichet, who held the post for eight years.
Last month, the bank announced new, one-year emergency loans to banks to help them deal with the debt crisis. It also said it would help the banks by spending 40 billion euros (£35 billion) buying certain assets from them.
The ECB previously raised its interest rates from 1.25% to 1.5% in July.
The BBC reports Eurozone inflation is currently 3%, well above the ECB's target of almost 2%.