European Central Bank Governing Council Member Kazaks: Not in a hurry to raise interest rates, will continue to observe data

Golden Finance reports that on April 22, European Central Bank Governing Council member Martins Kazaks stated that there is no rush to raise interest rates, as current data is not sufficient to support such action. Kazaks said, “We still have ample room to continue collecting data and forming judgments.” Currently, inflation expectations remain under control, and so far, the ripple effect of rising energy prices on the overall economy has been relatively limited. Oil prices have fallen back from their highs after the Iran conflict, and European natural gas prices are also well below 2022 levels. Kazaks noted that the current 2% interest rate level neither stimulates economic growth nor suppresses economic activity. (Cailian Press)