The European Central Bank is confident that inflation will converge to the 2% goal in 2025 as is reflected in its monetary policy, ECB’s Vice-President Luis de Guindos said on Monday.

“If our inflation projections hold true, the (monetary policy) evolution will continue the (rate cuts) trend we’ve had in recent months,” he said.

Last week, the ECB cut interest rates for the fourth time this year and kept the door open to more easing as the euro zone economy is dragged down by political instability at home and the threat of a fresh U.S. trade war.