The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is cutting borrowing costs once again after figures showed inflation across the bloc falling to its lowest level in more than three years

European Stoxx 600 ( STOXX) moved 0.11% higher, as traders digest lackluster economic data from China, prospects the ECB will continue to lower interest rates in the coming meetings and fresh corporate results.

The European Central Bank policymakers have decided to lower interest rates by a quarter percentage point, a third such cut this year as inflation across the 20-member Eurozone came down to 1.7% in September.