ECB’s Kazaks says big hikes may not be over after July move – Bloomberg
2022.07.25 11:50
FILE PHOTO: Latvian central bank governor Martins Kazaks speaks to media in Riga, Latvia December 18, 2019. REUTERS/Ints Kalnins
(Reuters) – The European Central Bank (ECB) may not be done with big interest rate hikes after its initial half-point hike last week, Latvian central bank governor Martins Kazaks said in an interview with Bloomberg News.
“I would not say that this was the only front-loading,” the report said, quoting Kazaks. “I would say that the rate increase in September also needs to be quite significant.”
The ECB raised its main rates by half a percentage point last week as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of Russia’s war in Ukraine.
