Member of the European Central Bank (ECB) Governing Council and Central Bank of Ireland President Gabriel Makhlouf told RTE News in an interview on Friday that although the latest inflation digits in the Eurozone are "very welcome," the decline is not definitive as underlying pressures are still strong.
"We haven't reached the moment where we can say let's now stop [with interest rate increases]. We need to see and be confident that we're seeing inflation actually on a trajectory that is going to achieve our 2% target," he explained.
Makhlouf added that for these reasons, the central bank will likely be hiking its interest rates further at the next monetary policy meeting, which will take place in less than two weeks.
