Boris Vujcic, a member of the European Central Bank's governing council, believes that the central bank will likely lower borrowing costs again. "If future data – as we say we rely on data – aligns with our predictions, then we can certainly continue to lower interest rates," the Croatian central bank governor reiterated his previous comments during an interview on Tuesday. "The direction of the forecast points to further declines in interest rates." The European Central Bank has cut rates four times this year, lowering the deposit rate to 3%. Economists expect policymakers to continue with a 25 basis point rate cut pace until it reaches 2% in June.