According to Golden Finance, European Central Bank Governing Council member Kazaks said that for the ECB to cut interest rates at its next meeting, the Eurozone economy needs to weaken. The likelihood of a rate cut in October is not high, if we look at the financial markets. However, if the economy is hit by an unexpected shock, if it feels significantly weaker than currently expected, and inflation falls significantly, then we could certainly consider a rate cut. Inflation has not been fully defeated, as services prices remain high. However, economic growth is slower than expected, likely due to the tight monetary policy. A gradual start to lowering interest rates is definitely justifiable, and we have already taken two actions this year. Of course, the year is not over yet.