ECB President Lagarde stated that consumer prices are approaching the target, but vigilance must be maintained against persistent dangers in certain industries. Lagarde said on Monday: "We are very close to announcing that the inflation rate has sustained to reach the mid-term target of 2%." "I say this with a bit of reservation, still believing that we should remain very cautious regarding services." She pointed out that the price increases in this sector are nearly double the European Central Bank's target, and urged policymakers to closely monitor the wage and corporate profit trajectories in the Eurozone. Economists expect Lagarde and her colleagues will cut deposit rates four times in 2025 (four adjustments in 2024), reducing rates from the current 3% to 2% by the middle of next year. Most officials prefer a "gradual" approach to easing policy—markets typically interpret this as a 25 basis point adjustment.