Bank of Latvia Governor and European Central Bank (ECB) governing council member Martins Kazaks (pictured) remarked on Thursday in an interview with CNBC that the Eurozone economy is "not out of the woods yet" due to persistent inflation.
Noting that labor markets have been much stronger than expected, Kazaks explained that "the rates would need to go up more to tame the inflation problem" as a consequence.
He concluded that he would not exclude a 50 basis points rate hike call at the next ECB policy meeting.
