Nordic United Bankshares stated that the European Central Bank may lower interest rates by another 25 basis points, but there is also a significant risk of a 50 basis point cut. Internal disagreements within the committee have intensified again, and it is not easy for Lagarde to achieve another unanimous compromise. A possible compromise solution is to lower the interest rate by 25 basis points while providing some guidance, indicating that as long as the European Central Bank's benchmark view remains unchanged, a further cut could occur in January. Our baseline expectation remains a continuous decrease of 25 basis points before the meeting in April next year, when the deposit rate is expected to reach 2.25%.