ECB Governing Council member KAZAKS said the bank faces a more delicate
trade-off between containing inflation and supporting growth and that further
tightening may be needed in December. Speaking to Bloomberg TV in Riga, the
Latvian policymaker said judgments on tightening have become more nuanced and
that from today’s perspective further tightening appears reasonable. He said the
ECB is assessing how much more is required to rein in inflation that is
currently above its 2% target; the bank has raised the deposit rate twice since
February and officials are open to another December hike. KAZAKS added that a
post‑US midterm decline in oil prices could help dampen upside inflation
pressure.
