Central Bank governor Gabriel Makhlouf stated that interest rates are unlikely to decrease by March, despite market expectations of rate cuts in spring. He emphasized the challenge of high inflation and suggested that people should not plan for rate cuts in March. The European Central Bank’s (ECB) December meeting will provide more insight, as inflation projections for 2026 will be presented. The ECB aims to lower eurozone inflation to its 2% target in the next two to three years, but interest rates may not necessarily rise if inflation remains stable. Makhlouf cautioned against the Irish government injecting too much cash into the economy in the upcoming budget, as it could worsen inflation. He also urged Irish banks to pass on the ECB’s rates more effectively and noted competition issues in the Irish banking sector. Finally, he discouraged comparisons between the Irish and UK economies, highlighting the UK’s decision to isolate itself from the world.