European markets moved lower Friday as investors digested a slew of central bank rate decisions this week and their impact on the global economy.The pan-European Stoxx 600 index was down 0.66% by 1:10 p.

The reduction, to 3.5 percent from 3.75 percent, comes as inflation has slowed and the bank faces pressure to bolster the region’s flagging economy.

With inflation subsiding, the European Central Bank is cutting its benchmark interest rate to prop up tepid growth with lower borrowing costs for companies and home buyers.