ECB's Kazmir says it would take a major departure from baseline scenario for him to consider changing policy

• Baseline is holding for now but the outlook is uncertain and fragile.

Kazmir's comments suggest that the ECB is maintaining its current policy stance, indicating stability in their baseline view despite the prevailing uncertainty. This suggests that any significant shifts in policy would likely require a major change in economic conditions, which keeps expectations for rate adjustments in check for now, affecting the euro and fixed-income markets accordingly.