Core Viewpoint - The European Central Bank (ECB) is not expected to lower interest rates prematurely in September, as there are no compelling factors to warrant such a move [1] Group 1: Monetary Policy - The commitment to a predetermined policy path is deemed a foolish mistake [1] - The ongoing risks of rising inflation necessitate a high level of vigilance [1] Group 2: Economic Conditions - Trade agreements are viewed as positive news that can help reduce uncertainty [1] - A significant shock to the labor market could compel the ECB to take action [1]

Core Viewpoint - The European Central Bank (ECB) is justified in its decision to lower interest rates ahead of the Federal Reserve, according to ECB Governing Council member and Bank of France Governor Villeroy [1] Group 1 - Villeroy emphasizes that the ECB's earlier rate cuts are both fair and appropriate in the current economic context [1]