ECB Governing Council member Makhlouf stated that if the data indicates it is necessary, there is a possibility of a rate hike in April.

MaticHoleFiller · 2026-03-28T14:14:39+00:00

European Central Bank official Gabriel Makhlouf stated that if necessary, a rate hike next month is not out of the question. He understands market expectations for a rate increase but emphasized that decisions should be cautious and based on evidence, and that economic conditions need to be observed over the next six weeks.

MaticHoleFiller

2026-03-28 14:14:39

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European Central Bank Governing Council member Gabriel Makhlouf stated that he does not rule out the possibility of raising interest rates next month if the data indicates that such a move is necessary, but he also pointed out that it is impossible to make a commitment given the current high level of uncertainty.

The Governor of the Central Bank of Ireland expressed that he “completely understands” the market’s bets on two interest rate hikes this year, which is also one of the European Central Bank’s baseline scenarios. However, he emphasized that he and his colleagues will maintain a calm and cautious attitude when formulating policy responses.

“If the facts indicate that we need to take action, we will absolutely take action,” he said on Friday. “But ultimately, it depends on the evidence, and it is clear that we have six weeks until we need to make the next decision. Six weeks is a long time in the evolution of this particular shock. Let’s see how things look in April.”

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