ECB’s Kažimír: “We Remain Fully Flexible and Ready to Act as Soon as the Situation Requires It”

22 December 2025

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Peter Kažimír on Monday said that the ECB was completely flexible and would change its stance as soon as necessary.

In a blog post on the website of the National Bank of Slovakia, which he heads, Kažimír started with the statement: “Just for the record: we remain fully flexible and ready to act as soon as the situation requires it.”

The current policy stance and the inflation outlook were grounds for “a justified sense of satisfaction with where we are today,” he said.

The euro area’s economy was “holding up surprisingly well” and this resilience was “encouraging,” he said.

Risks to both growth and inflation were abating and had grown more balanced than recently, he said. Still, the situation remained “quite fragile,” and coming challenges made it essential that the ECB be able to react nimbly, he said.

At the same time, monetary policy could not address the “not very encouraging” long-term growth outlook, he said, urging structural reforms.