ECB’s Kazāks: Expect ‘Quite Large’ Rate Steps at February and March Governing Council Meetings
3 January 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank is likely to hike rates by a large amount in both February and March, according to ECB Governing Council member Mārtiņš Kazāks on Tuesday.
In an interview with Bloomberg, Kazāks, who is Governor of Latvijas Banka, said, ‘In the next two meetings I think we can still do quite large steps. Of course the steps may become smaller as necessary as we find the level appropriate to bring the inflation down to 2%.”
‘Currently I would see that at the Feburary and March meetings we will have significant rate increases’, he said.