ECB's Kazaks says higher yields do some of the adjustment for us, adds that ECB needs to act if second round effects emerge; nothing against bets on two hikes starting June; will see if April is too soon for action

ECB's Kazaks suggests that rising yields are partly handling the adjustment the central bank needs, yet he emphasizes the importance of preemptive action if inflationary second round effects materialize. His comments indicate a willingness to support the market's expectations of two rate hikes starting in June, while also leaving the door open to potential action as early as April, which reflects a nuanced but proactive stance on monetary policy.