Kazimir said that the ECB must raise interest rates at least once more to prevent the risk of inflation completely getting out of control. Kazimir said that even if the situation in the Middle East eases slightly, it will not change the need to tighten monetary policy; if the conflict escalates, the central bank will need to raise interest rates further. Kazimir said that he will not support another rate hike in September only if there are very convincing favorable changes in economic data and the geographical situation.

Kazimir said that the ECB must raise interest rates at least once more to prevent the risk of inflation completely getting out of control. Kazimir said that even if the situation in the Middle East eases slightly, it will not change the need to tighten monetary policy; if the conflict escalates, the central bank will need to raise interest rates further. Kazimir said that he will not support another rate hike in September only if there are very convincing favorable changes in economic data and the geographical situation.