ECB's Kazaks: Data points to rate cut in October - Breaking The News

ECB's Kazaks: Data points to rate cut in October

8 October

1 min read

EPA-EFE/VALDA KALNINA

Member of the European Central Bank (ECB) Governing Council and Bank of Latvia Governor Martins Kazaks remarked on Tuesday that economic data is pointing to another interest rate cut in October.

While presenting the Bank of Latvia's economic forecast, he reiterated that rates will continue to fall, adding that this will support the economy. Nonetheless, he still warned that the fight against inflation is yet to be concluded, "especially services inflation."

Kazaks went on to say that "high uncertainty" is still present across the globe, due to "wars, conflicts and [upcoming] United States presidential elections."

ecb kazaks

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