According to the latest publications and press conferences by the European Central Bank, economists expect the ECB to make only three interest rate cuts in the eurozone this year, which is roughly in line with the Federal Reserve's expectations. In contrast to the US economy, however, the eurozone is at best in a stagnant phase with a recession in Germany, while inflation rates continue to fall. In view of the rapidly rising government debt in the eurozone, however, it can be assumed that the ECB's monetization of government debt will tend to increase. So far, however, the bond markets have been very receptive, so there is no need to panic.