By David Barwick – FRANKFURT (Econostream) – A further European Central Bank interest rate increase in September remains firmly on the table, ECB Governing Council member Mārtiņš Kazāks said Friday, warning against allowing inflation to become entrenched.

Kazāks, who heads Latvijas Banka, told Latvia’s TV3: “We must not allow inflation to take root, and one way to prevent that inflation from taking root is to raise interest rates.”

Asked about the possibility of another increase at the ECB’s September 10 meeting, Kazāks kept the decision formally open.

“We’ll see what happens,” he said. “But at the moment, in my view, it is a concrete possibility.”