European Central Bank Governing Council member Kazimir said that the inflation target has been achieved and the central bank now needs to be patient.

Peter Kazimir, a member of the European Central Bank's Governing Council, stated that policymakers have reached their inflation targets and there is no need to rush to further adjust interest rates. The Slovak official said in Bratislava on Thursday, "We can proudly say that we have achieved the target, and now we need to maintain patience and determination, ready to take action when the time is right." "In this period of rapidly changing circumstances, our stance is far from boring," he added. "Our task is to collect and analyze data, and to respond when necessary with our existing flexibility and capabilities." ECB President Lagarde stated that the bank's monetary policy is in a "favorable position." Given that inflation rates are at target levels, traders and economists believe that borrowing costs will not be further reduced.