ECB Governing Council member Robert Holzmann has cautioned that inflation in the eurozone may fall below the European Central Bank's 2% target in the coming years. Holzmann highlighted emerging downward risks, such as a stronger euro and stabilizing wage and service inflation, which could contribute to slower consumer price growth. The ECB is closely monitoring these medium-term inflation trends, with Holzmann stressing the importance of data-driven decision-making in the context of ongoing geopolitical tensions and trade war uncertainties. The current inflation rate remains near the target, but the ECB is vigilant about potential shifts in economic conditions.