拉加德：欧元区降通胀过程现已结束，贸易不确定性已明显减弱

Group 1 - The European Central Bank (ECB) has maintained interest rates unchanged for the second time and has lowered its inflation forecast for 2027, indicating that inflationary pressures are under control, which has increased market speculation about potential rate cuts by the end of the year [1] - ECB President Christine Lagarde stated that the process of reducing inflation in the Eurozone has concluded, and trade uncertainties have significantly diminished, reaffirming the ECB's policy statement to adopt a gradual approach in future meetings [1] - Lagarde mentioned that recent trade agreements have reduced uncertainties, and the impact of these agreements will become clearer over time [1] Group 2 - Lagarde indicated that the current inflation levels are at desired positions, and the disinflation process has ended, with a strong euro potentially leading to lower-than-expected inflation [2] - She cautioned that higher tariffs, a strong euro, and competition could suppress economic growth, suggesting that investment should be supported by government spending [2] - Regarding recent volatility in the bond market, Lagarde stated that the Eurozone sovereign bond market remains orderly, with smooth liquidity and a successful balance sheet reduction process [2] Group 3 - The money market has priced in a 50% probability of a 25 basis point rate cut by the ECB in June 2026, down from approximately 60% before the ECB's statement was released [3]