ECB’s Kazaks: more rate hikes can’t be excluded yet

The European Central Bank should not exclude the possibility of even more rate increases but will also not hold rates at record highs for any longer than necessary, Latvian policymaker Martins Kazaks said on Wednesday.

“We cannot exclude the possibility that further rate increases might be necessary, but we simply don’t know,” Kazaks told a conference in Riga.

“I can very clearly assure you that we will not hold rates at very high levels a minute longer than necessary,” Kazaks added. “When we see that it is necessary to reduce the rates, of course we will do so.”
Source: Reuters (Reporting by Balazs Koranyi; Editing by Andrew Heavens)