European Central Bank Governing Council member Joachim Nagel said on Tuesday that global growth prospects have deteriorated massively due to U.S. tariffs.
The official emphasised that at the ECB's April 16-17 meeting, policymakers will make responsible decisions in light of the current challenges.
Nagel also stressed the importance of European unity, noting that Europe must stand closer together. He added that monetary policy in Europe will play its part in addressing the situation.
The policymaker, however, cautioned that financial market volatility is likely to persist.