Kazaks: ECB Poised for Possible Rate Hike as Inflation Lingers

European Central Bank (ECB) Governing Council member Martins Kazaks believes that further action may be necessary to bring inflation back down from its current level. Speaking about the situation, Kazaks described the current state of inflation as 'somewhat uncomfortable', but noted that it's too soon to say what the outcome will be at next month's meeting.

Kazaks pointed out that consumer-price gains are currently lingering around 3%, a figure that is likely to influence the decision-making process. Markets are anticipating a quarter-point increase in the deposit rate, following the initial move made in June.