European Central Bank (ECB) officials have emphasized a cautious approach to monetary policy amid ongoing economic uncertainties. ECB Executive Board member Isabel Schnabel advocated for maintaining interest rates close to current levels. Governing Council members Jens Weidmann and Pablo Hernández de Cos stressed the need for prudence and humility in assessing economic conditions, warning against overreacting to individual announcements. Martins Kazaks, another Governing Council member, indicated a potential for gradual rate reductions if inflation, measured by the Consumer Price Index (CPI), converges to the ECB's 2% target, but he also urged caution in implementing further cuts. Francois Villeroy de Galhau, Governor of the Banque de France and ECB Governing Council member, suggested that another interest rate cut is likely by summer, noting that trade tensions, particularly U.S. tariffs, have fueled inflation in the U.S. but not in the Eurozone. ECB Executive Board member Pierre Wunsch highlighted that uncertainty is weighing on investment decisions and will persist even if trade conflicts subside. Klaas Knot, President of the Dutch Central Bank and ECB Governing Council member, noted that trade uncertainty is currently suppressing both inflation and economic growth in the near term, though its medium-term impact remains ambiguous. He also stated that there is no viable alternative to the U.S. dollar in many of its global functions, making the prospect of dethroning the dollar as the dominant currency distant. This view was echoed by other central bankers, including Bank of England's Mann, who affirmed the dollar's continued dominance. The ECB is also reevaluating the impact of U.S. tariffs on the Eurozone economy as it considers its future monetary policy stance.