ECB’s Makhlouf Says Rates Will Fall But Open-Minded on Speed

European Central Bank interest rates will fall, but the speed and pace will depend on data, according to Governing Council member Gabriel Makhlouf.

“It is clear that policy remains restrictive and, shocks aside, rates are on a downward trajectory,” the Irish central banker said. “Given the volatility and the data and the substantial uncertainty regarding economic policy in trade partners, I remain open-minded on slope of this downward trajectory.”