ECB Governing Council member Kazimir said on Monday the ECB has taken a first
step to rein in price pressures but additional tightening is increasingly
necessary. He noted the ECB raised rates last Thursday — its first hike in
nearly three years — aiming to curb inflation before an energy-cost surge linked
to US and Israeli military action against Iran spreads across the eurozone.
Kazimir warned higher energy costs will likely persist longer than many expect
and could trigger second‑round effects; even if the US and Iran have just
announced a peace framework, damage in the Middle East cannot be undone
overnight. Based on current information, he said monetary policy still has more
work to do.
