McGrath notes interest rates may have reached a peak, but 'there are no guarantees'

Finance Minister's comments come as ECB policymakers gave mixed signals about rate hikes versus rate cuts

Earlier this week, the ECB said the overall economic outlook had weakened and the balance sheets of eurozone banks remained vulnerable following a rise in loan defaults and late payments. Picture: Gareth Chaney/ Collins 

Finance Minister Michael McGrath noted financial markets are indicating the European Central Bank have hit a peak with interest rate hikes, but added additional increases could not be ruled out.

Mr McGrath’s comments come as ECB policymakers gave mixed signals about rate hikes versus rate cuts.