ECB’s Kazaks: Quite satisfied where rates stand now

Speaking at the Reuters Global Markets Forum on Thursday, European Central Bank policymaker Martins Kazaks said that he is “quite satisfied where rates stand now.”

Additional quotes

Will take decisions meeting by meeting.

Rates will need to remain restrictive for quite a while.

Energy price rise does create upside risk to inflation.

Recent energy price rise is structural, not a short term transitory rise.

Given the current outlook, mid 2024 rate cut expectations are too early.

Need to start cutting rates when inflation forecast consistently undershooting target.

APP sales, end of PEPP reinvestments should be discussed before rate cuts.