12:05 PM · 6 December 2023

ECB Kazaks says 'no rate cuts needed in 1H 2024'

The Governor of the Bank of Latvia and a member of the European Central Bank, Martins Kazaks has indicated that interest rate cuts in the Eurozone will not be necessary in the first half of 2024. This stands in stark contrast to market expectations, which aggressively expect the first cuts as early as next spring. Kazaks stressed that his position could change in the future if risks to price stability are more balanced.

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Economic reports

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