ECB’s Kažimír: Tariffs Largely Incorporated in Worst Scenarios of Our Projections

3 April 2025

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Peter Kažimír said on Thursday that tariffs announced by US President Donald Trump were to a large extent incorporated in the gloomiest scenarios of the ECB’s projections.

In comments to journalists, Kažimír, who heads the National Bank of Slovakia, said, ‘These developments are already largely included in our forecasts - among the worst-case scenarios we should prepare for.’

‘We need to see the response from the European Union’, he said. ‘However, this is not good news for the economy.’

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