ECB’s Kažimír: April and Beyond Depend on New Forecasts, Data on Services, Wages

3 February 2025

ECB’s Kažimír: April and Beyond Depend on New Forecasts, Data on Services, Wages
Peter Kažimír, governor of the National Bank of Slovakia, at the European Central Bank Forum on Central Banking in Sintra, Portugal on June 27, 2023. Photo by Sérgio Garcia/ECB under CC BY-NC-ND 2.0.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Peter Kažimír said on Monday that the ECB’s decisions in April and beyond would depend on new forecasts and new data on services inflation and wage growth.

In a blog post on the website of the National Bank of Slovakia, which he heads, Kažimír said that ‘[u]pdated forecasts combined with incoming data about service inflation and wage development will help us navigate what will happen in April and beyond.’

Despite the ‘encouraging’ path of inflation, Kažimír acknowledged that policymakers still needed ‘unyielding confirmation’ that the disinflation process was valid despite all the risks.

‘The next few months will be crucial’, he added.

Giving clear guidance on what the ECB could do on the long-term would be ‘unrealistic’, he said, so the institution should keep monitoring risks and developments.

‘Lacklustre economic growth remains a concern, but this doesn’t come as a surprise’, he said. ‘The pace of the recovery is rather disappointing.’

 

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