ECB Governing Council member Kazimir said on Monday that at least one more rate
increase is needed to curb inf, and that more aggressive tightening could be
required if the economic outlook deteriorates. The ECB left rates unchanged last
week but signalled a hike at its September meeting. Oil and gas prices have
risen sharply this month after renewed Middle East hostilities. In a commentary,
the typically hawkish Kazimir said he still views at least one further hike as
appropriate even if conditions improve, and that he would press for action in
September unless "very convincing" economic data and geopolitical progress
emerge in the coming weeks.
