① Resolution result: The European Central Bank maintains its three major interest rates unchanged and remains at historical highs. Previously, the European Central Bank had raised interest rates 10 times in a row, with a cumulative increase of 450 basis points Regarding forward-looking guidance: European Central Bank President Lagarde stated that this is not the time to provide forward-looking guidance; It's too early to discuss interest rate cuts Regarding the APP: The asset purchase plan investment portfolio is declining at a predictable and measured rate. ④ Regarding the emergency anti epidemic bond purchase plan: PEPP's reinvestment plan will continue at least until the end of 2024. The management committee is ready to adjust all tools at any time Regarding the CPI outlook: Price pressures remain strong, and higher energy and food prices will boost inflation. The European Central Bank has expressed its determination to ensure that inflation falls back to its target level of 2% Regarding the economic outlook: European Central Bank President Lagarde stated that the continuous decline in manufacturing, sluggish demand, and tight financing have suppressed consumption. For the rest of this year, the economy may still be weak. The labor market is weakening.