Analyst Patrick O'Donnell of Omnis Investments believes that inflation in the euro area is rebounding, and the European Central Bank may proceed cautiously. In November, the inflation rate rose above the European Central Bank's target of 2%, reaching 2.3% due to energy price effects, with high service sector inflation. O'Donnell stated that although central bank policymakers are concerned about signs of economic slowdown in the euro area, at the next month's meeting, the central bank may not be forced to cut interest rates by 50 basis points, but may choose a more moderate cut of 25 basis points. He mentioned that they may want to observe if the next round of survey data will show a rebound, as well as whether the next US government will announce any policy measures that could affect their forecasts.