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Investing.com -- European Central Bank (ECB) interest rates are likely to remain at their current level for the foreseeable future, according to governing council member Gabriel Makhlouf.
Speaking at a news conference on Wednesday, Makhlouf indicated that while rates are expected to stay in their present territory, this does not rule out potential policy changes at the ECB’s upcoming meeting.
"I certainly think we’re now in territory where we’re likely to remain in the foreseeable. Whether that means at the next meeting we decide not to move would really depend on the facts at the next meeting" in July, Makhlouf said.
The ECB official’s comments suggest that while the central bank sees current rate levels as appropriate for the longer term, decisions about immediate policy actions will still be data-dependent as the July meeting approaches.
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