ECB's Kazaks says it is clear prices will be higher, and growth will be slower; further interest rate increases are needed "if inflation spreads from energy" no matter the current levels

Newsquawk StaffPublished 24 Mar 2026, 10:26 UTC

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ECB's Kazaks says it is clear prices will be higher, and growth will be slower; further interest rate increases are needed "if inflation spreads from energy" no matter the current levels

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Says two rate hikes seems reasonable, but we must wait and see

Context

Kazaks' comments indicate a more hawkish stance from the ECB, suggesting that they prioritize managing inflation risks even if growth slows. The mention of potential further rate hikes signals that the central bank is prepared to act aggressively if inflation broadens beyond energy, which could impact market expectations for future monetary policy and drive EUR volatility.

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