According to Jinshi, ECB board member Simkus recently said that if the economy develops as officials predict, the assumption that the ECB will cut interest rates twice more in 2024 may prove to be correct. He said in an interview: "If the data develops as expected, the expectation of two more rate cuts this year is in line with my own thinking." He emphasized that officials should be ready to take action at any meeting, not just at the quarterly meeting where new economic forecasts are presented. If it is agreed at other meetings that a rate cut is necessary, action should be taken. He also said: "I think the reason for a rate cut in July no longer exists."