Speaking on RTÉ's Morning Ireland following the European Central Bank 's decision to cut interest rates, Gabriel Makhlouf said it was"quite important that Government pays attention to what impact its policies will have on domestic prices".
Though he said the detail also matters, as the manner in which taxes are cut - or how additional spending is allocated - can have an impact. "My number one concern is to make sure that the budget supports the ECB's monetary policy decisions, that doesn't act in a cyclical fashion to fuel Irish inflation," he said.
When asked why it was important that the Government adheres to its rule of increasing spending by no more than 5% each year, Governor Makhlouf said it was ultimately about credibility.
Business Central Bank Consumer Prices European Central Bank Gabriel Makhlouf Inflation Budget 2025 Minister For Finance
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