The direction of the European Central Bank's monetary policy has once again attracted market follow. Although the eurozone inflation rate remained at 2.0% in July, and the core inflation rate has not shown a significant decline, some analysts believe that the European Central Bank may still cut interest rates again in September.

According to economists' analysis, inflation in the eurozone may rebound in the coming months, mainly influenced by rising food prices and the base effect of oil prices. However, this may not prevent the European Central Bank from taking further easing measures.

Experts point out that the European Central Bank may use the current turbulent market environment and the weak U.S. economy as reasons for cutting interest rates. If a rate cut is decided in the September meeting, the interest rate may be lowered to 1.75%. In addition, if the core inflation data for August shows a decline, it will provide further support for this decision.

It is worth noting that the European Central Bank needs to weigh multiple factors when formulating monetary policy. On one hand, sustained inflation above target levels may raise concerns about an overheating economy; on the other hand, increasing global economic uncertainty also poses challenges for policy making.

Regardless of how the European Central Bank ultimately decides, its policy direction will have a significant impact on the eurozone and the global economy. Market participants will closely follow economic data and comments from central bank officials in the coming weeks to look for more clues about policy direction.