DUBLIN - The European Central Bank is "there or thereabouts" at the top of its interest rate hiking cycle and March next year is probably too early for a first rate cut, governing council member Gabriel Makhlouf said on Wednesday.

"My own view at the moment is that March is probably too early," Makhlouf told an Irish parliamentary committee when asked if the ECB could cut interest rates as soon as March having raised its main rate to a record high 4% last week.

"I said before the summer that we were getting close to the top of the ladder of interest rate increases and I do think that we are there or thereabouts."

(Reporting by Padraic Halpin; Editing by Andrew Heavens)