ChainCatcher message, HSBC economists Balboni and Wells stated that the European Central Bank may abandon its more policy-restrictive stance at the next meeting, instead signaling a more open attitude towards future interest rate cuts. This would lay the groundwork for further rate cuts next year, although given that policymakers have recently called for a gradual approach, a significant cut of 50 basis points in December seems unlikely. However, if economic data continues to disappoint, or if inflation drops more rapidly in early 2025, it could mean that the European Central Bank will accelerate rate cuts.