(Bloomberg) -- The European Central Bank will “most likely” lower borrowing costs when it meets in June — should the outlook for consumer prices be confirmed by fresh quarterly forecasts, Executive Board member Frank Elderson said.

“This is a projection meeting so we will look at projections,” he told Bloomberg in Rome on Friday. “If these projections were to solidify the confidence levels that we see today, I think that we will most likely take a step.”

Subsequent moves are less clear, however, with many policymakers cagey in light of heightened global uncertainty and robust growth in wages at home.

“There’s no commitment at all beyond that,” Elderson said.

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