European Central Bank board member Wunsch: If the outlook materializes, interest rates can be kept unchanged for a period of time.

European Central Bank Governing Council member Pierre Wunsch said that if the latest outlook forecasts are realized, the bank can maintain interest rates unchanged for a period of time. In an interview in Brussels on Friday, Wunsch said that while shocks are always possible, if the new forecast becomes a reality, there is no immediate need to take action. When asked about the possibility of raising rates next year, he said he "doesn't predict at all, not even the direction." European Central Bank policymakers are currently confident in their wait-and-see approach, but remain cautious about the next steps in borrowing costs. Prior to Thursday's rate decision, Executive Board member Isabel Schnabel said she finds it "acceptable" that market expectations are for the "next step to be a rate hike," although it "won't happen very soon."