European Central Bank Governing Council member Kazaks: The European Central Bank should not overreact to the 2028 inflation forecast.

Jin10 data reported on October 31, the European Central Bank council member Kazaks stated that the European Central Bank must be cautious in interpreting the inflation forecast to be released in December, avoiding erratic policy decisions due to predictions. The Latvian central bank governor pointed out that although seeing the price movement forecast for 2028 for the first time will help officials assess whether the European Central Bank is still on track to achieve the 2% target, the likelihood of revised forecasts is exceptionally high due to significant uncertainty. He added that prudence is a virtue that policymakers should adhere to. Kazaks stated, “The 2028 forecast is very important, we need to see the direction of inflation trends, but I will not overestimate its significance. Uncertainty remains high and is unlikely to disappear, thus these forecasts will come with a very large margin of error.”