(Bloomberg) -- Investor are getting ahead of themselves in their speculation on when the European Central Bank will start lowering borrowing costs, according to Governing Council member Gediminas Simkus.

“It’s very important to put the genie back into the bottle and to securely seal it — therefore expectations that we’ll have interest-rate cuts in a few months are too optimistic in my view,” he told reporters on the sidelines of a real estate conference in Vilnius on Tuesday.

With the ECB generally seen to be at peak rates, focus has shifted to when cuts might start, with markets betting on a reduction as early as April. Most policymakers have said that such talk is premature, with France’s Francois Villeroy de Galhau acknowledging Monday that the current plateau in borrowing costs means some “boring” meetings are on the horizon. 

Simkus — who heads Lithuania’s central bank — appeared to agree, saying that “there’s also no reason to speak about further increase in rates this December.”

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