According to Jinshi, the European Central Bank said that inflation expectations among eurozone consumers fell in April, which strengthened plans to start cutting interest rates next week. The survey showed that the 1-year CPI expectation was 2.9%, down from 3% in March and the lowest level since September 2021. The 3-year expectation also fell to 2.4% from 2.5% for four consecutive months. Consumers are less pessimistic about the economy, and they expect the economy to shrink by 0.8% in the next 12 months, compared with a 1.1% contraction in the previous round of surveys. Expectations for the unemployment rate in the next 12 months rose to 10.9% from 10.7% in March. Nominal income is expected to grow by 1.3%, the same as in March. House prices will rise by 2.6%, compared with 2.4% previously. Expectations for mortgage rates remain unchanged at 5%.