ChainCatcher News, Kaitou Macro Analyst Jack Allen-Reynolds stated that the preliminary PMI shows that economic activity in the Eurozone continues to slow this month, which will further stimulate the European Central Bank to cut interest rates. The PMI remains below the level of October, which has historically been consistent with economic contraction. This will reinforce the view of European Central Bank policymakers that further cuts in interest rates should be made following last week's reduction in borrowing costs.

Earlier on Monday, European Central Bank President Lagarde stated that it is necessary for the ECB to cut interest rates again due to the impact of potential new tariffs imposed by the U.S. on European exporters. (Jinshi)