Central Banks
ECB’s Kazaks Says He Would Err on Side of Raising Interest Rates
- Kazaks is ECB Governing Council member, spoke on Bloomberg TV
- While risks are on both sides, tackling inflation is priority
Photographer: Edjis Palens/Xinhua News Agency/Getty Images
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European Central Bank Governing Council member Martins Kazaks said it’s better to err on the side of tighter monetary policy than allow the risk of re-accelerating inflation.
“The risks are now really on both sides — doing too little or doing too much, but I would still err on the side of raising rates,” Kazaks told Bloomberg TV at the Federal Reserve’s annual conference in Jackson Hole on Friday. “We can always cut. If, however, we stopped too early, then of course later on it may require much larger interventions.”