ECB interest rates are likely to remain at their current levels for the foreseeable future, according to Gabriel Makhlouf, a member of the European Central Bank's (ECB) Governing Council.

Makhlouf said at a press conference on Wednesday that while rates are expected to remain in their current range, this does not rule out a possible policy change at the ECB's upcoming meeting.

"I do think we are now in a range that is likely to remain for the foreseeable future. As to whether this means that at the next meeting we decide not to act, that will really depend on what actually happens at the July meeting," Makhlouf said.

Comments from ECB officials suggest that while the central bank believes the current interest rate level is appropriate for the long term, decisions on immediate policy action will still depend on data as the July meeting approaches.