ECB’s Kazaks says big hikes may not be over after July move – Bloomberg

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Latvian central bank governor Kazaks speaks to media in Riga

(Reuters) – The European Central Bank (ECB) may not be done with big interest rate hikes after its initial half-point hike last week, Latvian central bank governor Martins Kazaks said in an interview with Bloomberg News.

“I would not say that this was the only front-loading,” the report said, quoting Kazaks. “I would say that the rate increase in September also needs to be quite significant.”

The ECB raised its main rates by half a percentage point last week as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of Russia’s war in Ukraine.

(Reporting by Akriti Sharma in Bengaluru; Editing by Hugh Lawson)

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