ECB Governing Council member Gabriel Macloff said that the current economic signals are conflicting, and more information needs to be collected to determine the direction of interest rate adjustments. In his speech, the Irish official said that the impact of the ECB's previous two interest rate hikes continues to show. Higher yields on treasury bonds are driving up financing conditions, while the risk of rising prices still exists, so we should be patient. “These mixed signals suggest we need to wait for more data and the central bank team's December forecast report,” he said on Wednesday. At the same time, Markloff proposed: “Price pressure is currently mainly concentrated in the energy sector.” “Wage growth is manageable, and inflation expectations remain stable. However, it will take time for the indirect effects to spread to the supply chain, which is one reason why inflation is expected to rise again in early 2027.” “There is a lag in salary adjustments, and the effects of the second round of inflation will only gradually become apparent.”

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