According to Jinshi, Carsten Brzeski, head of macroeconomics at ING Bank, wrote in a report that the ECB wants to look to the future again instead of relying on past data. At a meeting after the decision to cut interest rates on Thursday, President Lagarde focused on inflation forecasts. ECB staff expect inflation to fall to the target level of 2% by the end of next year. Brzeski said this shows that the ECB is refocusing on forward-looking forecasts, rather than being forced to put past data at the center as in recent meetings. He said: "The decision to cut interest rates also marks the ECB's attempt to become a truly forward-looking central bank again."