Central Bank of Ireland Governor Gabriel Makhlouf said interest rates are close to the peak they will hit in the current cycle. BIS acts as the central bank for central banks and said interest rates may need to stay higher for longer than the public and investors expect. “Interest rates may need to stay higher for longer than the public and investors expect,” it said. Governor of the Central Bank of Ireland Gabriel Makhlouf told the Irish Independent that rates are close to the peak they will hit in the current cycle. However, while interest rates have been hiked aggressively by the European Central Bank and its major peers the impact on inflation has been limited to date.

Source: Irish Independent June 26, 2023 16:18 UTC