By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf said on Wednesday that the ECB was not on hold with respect to interest rates, citing elevated uncertainty.

In an interview with Irish daily The Irish Times, Makhlouf, who heads the Central Bank of Ireland, denied that the ECB was in a “holding pattern”.

“There’s so much uncertainty, we’re going to continue our meeting-by-meeting approach, looking at the data,” he said.