Odaily News Gabriele Foa, an analyst at Algebris Investments, said in a report that the ECB may cut interest rates more than the market currently expects due to uncertainty about tariffs. The portfolio manager said: "Trade tensions and tariff progress may bring the end of the reduction cycle slightly lower than current market expectations." LSEG data shows that money markets currently expect the ECB 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)