European Central Bank Executive Committee Member Makhlouf: Does not rule out the possibility of future interest rate hikes or cuts, inflation is steadily moving towards the target.

European Central Bank Governing Council member and Governor of the Central Bank of Ireland, Gabriel Makhlouf, said that the next move by policymakers could be to increase or decrease borrowing costs. Makhlouf stated, "I do not rule out the possibility of further interest rate cuts, in fact, I also do not rule out the possibility of rate hikes. What I mean is, it looks like inflation is steadily moving towards our target, so we are in a good position." European Central Bank officials maintained borrowing costs at their fifth meeting earlier this month, with President Lagarde reiterating the central bank's consistent stance that they believe they are in a "good position." Investors and economists expect rates to remain unchanged until 2027. Makhlouf said, "Inflation itself has at some point soared to very high levels, but has been falling back, basically reaching the target level now. The European Central Bank is proceeding as planned, aiming to achieve the 2% inflation target in the medium term." He stated that despite "many uncertainties," the European Central Bank will continue to proceed with a step-by-step approach at each meeting. "We will examine evidence, analyze datait's hard to predict accurately what will happen in the future. But as it stands now, we are proceeding as planned." When asked if he would consider reappointment as Governor of the Central Bank of Ireland after his term ends later in 2026, Makhlouf said he "enjoys my job very much." He said, "I have been in this role for seven years now. I am very focused on the next few months. There is a lot to do. I have a great team and we are dedicated to serving the people of Ireland."