ECB policymaker Klaas Knot has shared a word of caution for investors waiting for the central bank to turn hawkish soon. On Sunday, Knot stated that rates are expected to remain at the current levels in the coming years and are unlikely to see much change.

The governor of the Dutch central bank and member of ECB’s Governing Council, Knot noted that the ECB has maintained negative interest rates in the face of weakening inflation in the Eurozone even as savings remain high. However, external risks such as Brexit, especially the possibility of a no-deal Brexit, still remain.

In case Britain ends up leaving the EU without a deal in hand, economic growth across the Eurozone can get affected. While the threat of a hard Brexit is negligible at present, there is still a very real possibility that Britain and the EU will fail to finalize a comprehensive trade agreement covering all aspects in a short span of less than a year.