ECB Kazaks sees rates being raised past July
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European Central Bank (ECB) policymaker Matin Kazaks said on Tuesday that he sees the central bank raising interest rates beyond the July meeting if inflation remains too high.
He added that market bets on rate cuts in early 2024 are wrong.
Additional comments
Softness of the economy is unlikely to deal with inflation.
There are still strong risks of persistence in inflation.
Don't think that in July we'll be comfortable enough to say "we're done".
Market reaction
EUR/USD is holding the rebound near 1.0925 on Kazaks’ hawkish remarks, adding 0.20% on the day.
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