Central Bank Governor Makhlouf sees one more interest rate cut this year, two is 'too far'

Gabriel Makhlouf, Governor, Central Bank of Ireland. Picture by Shane O'Neill, Coalesce.

Central Bank of Ireland Governor Gabriel Makhlouf said he was comfortable with just one more interest rate cut this year as he needed more time to gain confidence that inflation was headed to the European Central Bank's (ECB) 2% goal.

Investors are pricing in at least one, but more likely two more ECB interest rate reductions by December after seeing inflation fall from 10% in late 2022 to just 2.5% last month.