Oxford Economic Research Institute: If there is no action in September, the European Central Bank may fall behind the situation.

Jin10 data reported on July 25, despite European Central Bank President Lagarde seemingly downplaying the possibility of a rate cut in September this week, Oliver Rakau from the Oxford Economic Institute pointed out in a report that if the ECB continues to hold back, it may "fall behind the situation." "We believe the next two inflation data will likely be below their forecasts," Rakau stated. He also noted that a stronger euro will weigh on exports and inflation later this year. He added that with a 15% US tariff level becoming the new baseline, even if an agreement is reached in the future and related uncertainties diminish, economic growth still faces downside risks, which may lead to a delayed response from the ECB in dealing with the economic shock brought by high tariffs.