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ECB’s Kazāks: Haven’t Kept Current Tight Policy in Place Long Enough
It remains too soon for the European Central Bank to consider the current level of monetary restrictiveness to have been maintained long enough, given uncertainty about developments and the need to avoid a resurgence of inflation, Governing Council member Mārtiņš Kazāks said Friday. In an interview (transcript here) on the margins of a EUROFI conference, Kazāks, who heads Latvijas Banka, readily acknowledged that authorities saw ‘very clearly that there are disinflationary processes at work and that monetary policy transmission is effective.’ ‘We are in a relatively good situation’, he continued. ‘But ... (full story)