Editorial: El País

• The European Central Bank (ECB) has lowered reference rates by 0.25 points, from 3.75% to 3.5%.
• The ECB predicts a temporary rebound in general inflation by the end of the year, but core inflation, driven by service prices, will remain resilient.
• The ECB's decisions will also be influenced by the actions of the Federal Reserve.
• The ECB has shown caution due to previous errors in analyzing inflation caused by supply chain problems and the energy crisis.
• The European economy is weakened by issues in Germany and falls in private consumption and investment.
• Christine Lagarde supports the reforms proposed by Mario Draghi to mobilize about 800,000 million euros a year in common debt for investment.

Conclusion: The ECB's decisions show a caution that could lead to disregarding the weakness of the European economy. The proposed reforms are key to revitalizing and boosting Europe's competitiveness.

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