ECB's Kazak says we know that inflation will go up and economy will slow, and will take stock in April

The comments from ECB's Kazak indicate a recognition of rising inflation coupled with an anticipated economic slowdown, which could imply a cautious approach to monetary policy. Notably, his assessment that the current energy shock is less severe than in 2022 suggests some underlying stability, but it reinforces that the ECB is closely monitoring conditions ahead of the April meeting. This insight may influence perceptions around interest rate trajectories in the Eurozone and could impact Euro and bond markets accordingly.