Odaily Planet Daily News: Gabriele Foa, an analyst at Algebris Investments, said in a report that due to the uncertainty of tariffs, the European Central Bank's interest rate cuts may exceed the current market expectations. The portfolio manager said: "Trade tensions and tariff progress may bring the end of the reduction cycle slightly lower than current market expectations." Data from LSEG shows that the money market currently expects the European Central Bank to cut interest rates by another 25 basis points in December. Foa said that the spillover effects of tariffs on Europe may take longer to appear. (Jinshi)