HSBC economists Balboni and Wells stated that the European Central Bank might abandon its more policy-restrictive stance at the next meeting and signal a more open attitude towards future interest rate cuts. This would lay the groundwork for further rate cuts next year; however, given that policymakers have recently called for a gradual approach, a significant 50 basis point cut in December seems unlikely. Nevertheless, if economic data continues to be disappointing, or if inflation rates decline more rapidly in early 2025, it could indicate that the European Central Bank will accelerate rate cuts.