Finance
Ireland re-appoints makhlouf for second term as central bank chief
Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: March 3, 2026
Quick Summary
Irish Central Bank Governor Gabriel Makhlouf has been reappointed on March 3, 2026, for a second seven‑year term starting in September. He will continue representing Ireland on the ECB Governing Council and is known for urging caution on spending and tax cuts.
Gabriel Makhlouf Reappointed as Ireland’s Central Bank Governor for Second Term
Gabriel Makhlouf’s Reappointment and Role at the Central Bank
Official Announcement and Term Details
DUBLIN, March 3 (Reuters) - Irish Central Bank Governor Gabriel Makhlouf was re-appointed by the government on Tuesday for a second term and to represent the country at the European Central Bank's governing council for another seven years.
Background and Policy Stance
Makhlouf’s Previous Experience
Makhlouf, who took over the role in Dublin from current ECB chief economist Philip Lane in 2019, is considered a centrist or moderate on the 27-member governing council who rarely deviates from the mainstream view on monetary policy.
Advice to the Irish Government
The former senior British civil servant and head of the New Zealand treasury has urged the Irish government throughout his first term to curb spending increases and tax cuts, with limited success.
Government Support and Future Outlook
Statement from Finance Minister
"Mr. Makhlouf is eminently qualified to perform the role of Governor of the Central Bank and the Government was pleased to support his nomination for reappointment," Finance Minister Simon Harris said in a statement.
Start of Second Term
Makhlouf's second term will start in September.
Reporting Credits
(Reporting by Padraic Halpin; editing by William James and Bernadette Baum)
Key Takeaways
- •Gabriel Makhlouf, first appointed in September 2019, has now been re‑appointed by the Irish government on March 3, 2026, for another seven‑year term beginning in September 2026.
- •As a centrist on the ECB Governing Council, Makhlouf has consistently urged the Irish government to moderate spending increases and tax cuts—his fiscal cautions have become a hallmark of his tenure.
- •During his first term, Makhlouf emphasized building economic resilience in light of global uncertainty, including advocating for renewed fiscal rules, infrastructure investment, and robust regulation amid digital and geopolitical risks.
Frequently Asked Questions about Ireland re-appoints Makhlouf for second term as central bank chief
1Who has been reappointed as Ireland's Central Bank Governor?
Gabriel Makhlouf has been reappointed as Ireland's Central Bank Governor.
2How long will Gabriel Makhlouf’s second term last?
His second term will last seven years, starting in September.
3What council does Makhlouf represent Ireland on?
Gabriel Makhlouf represents Ireland at the European Central Bank's governing council.
4What roles did Makhlouf hold before becoming Ireland’s Central Bank Governor?
He was a senior British civil servant and head of the New Zealand treasury.
5What has Makhlouf advised the Irish government to do?
Makhlouf has urged the Irish government to curb spending increases and tax cuts.