ECB Governing Council member Kazaks said upside inflation risks still dominate
and the ECB can afford time to analyze inflation trends, so immediate rate moves
are unnecessary. He warned rising oil and gas prices are likely to keep CPI
Elevated, while recent government bond sell-offs may begin to curb activity.
Kazaks said policy is clearly geared toward tightening, the central bank is not
behind the curve, but inflation risks exceed growth downside risks and the
trade‑offs will become increasingly difficult amid high uncertainty.
