ECB Governing Council member Rehn believes that investors' expectations that the ECB will cut interest rates twice more in 2024 are reasonable.

Supporting reasons and specific data:

1. The rationality of the number of interest rate cuts Rehn expects that there will be two more interest rate cuts this year, which means that interest rates will reach a certain level by the end of this year.

2. Forecast of interest rate level According to Rehn's point of view, if these two interest rate cuts are carried out as scheduled, the interest rate will reach 3.25% by the end of this year.

3. He further stated that the final interest rate level may be around 2.25% or 2.50%. Economic activity and inflation considerations Rehn emphasized that while it is necessary to ensure that the inflation rate returns to the 2% level, economic activity should not be excessively suppressed when making policies. This means that between balancing inflation and economic growth, the ECB may choose to stimulate the economy by cutting interest rates.

4. Market data and expectations Investors and the market generally accept Rehn's views and believe that this interest rate cut path is reasonable. For example, the market has already expected a rate cut in September and believes that the rate cut has been fully priced in by October.