Top European Central Bank (ECB) policymakers have indicated that the monetary easing cycle in Europe is likely nearing its conclusion, suggesting that the ECB may soon pause interest rate adjustments unless major economic shocks occur.

In exclusive interviews with CNBC, Martin Kocher, ECB Governing Council member and Governor of the Austrian National Bank, said that the eurozone’s current economic conditions appear stable and that no immediate policy changes are needed.

“At the moment, I think we’re in a good place,” Kocher said during the IMF and World Bank Annual Meetings in Washington on Wednesday. “There’s no reason to change anything, as long as there are no changes that force us to do something. And if you take the larger picture, yes, the easing cycle is close to an end or at its end, but there’s no reason to pre-commit at that stage.”

Kocher emphasized that the ECB should continue adopting a meeting-by-meeting approach to policy decisions given the high degree of economic uncertainty. “Otherwise,” he warned, “central banks may commit to something that you cannot deliver on.”

On inflation, Kocher said expectations remain “well anchored”, adding that there is no sign of above-target inflation pressures that would necessitate further tightening.

His remarks reflect a cautious but confident tone within the ECB, suggesting that policymakers are increasingly comfortable with Europe’s inflation trajectory and economic stabilization, even as global growth concerns persist.