According to a report by Jinshi Data, Philip Anderson, co-head of fixed income and foreign exchange research at Danske Bank, stated that the European Central Bank may take more cautious measures after the expected interest rate cut in June, but may subsequently loosen policies further. We still consider the interest rate cuts in July and September as benchmarks. The new round of statements from ECB officials may provide more clues about the changes in the ECB's sentiment after the U.S. softened its trade stance.