The European Central Bank is getting closer to a pause in interest cuts since it is no longer clear that policy remains restrictive and energy price surges raise inflation risks, ECB board member Isabel Schnabel told the Financial Times.

FRANKFURT (Reuters) - The European Central Bank is getting closer to a point where rate cuts need to be stopped and policymakers should start debating this issue, ECB board member Isabel Schnabel told the Financial Times.

Reductions in borrowing costs by the European Central Bank can’t address the structural challenges facing the region’s economy, according to Executive Board member Isabel Schnabel.Most Read from BloombergSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterNice Airport,

A top European Central Bank official has signalled that rate-setters could be almost done with interest rate cuts in the Eurozone, warning risks to inflation were increasingly becoming “skewed to the upside” while borrowing costs had eased a lot.