Kazaks: ‘Serious’ rate hikes on the way

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Martin Kazaks, a member of the European Central Bank and Governor of the Central Bank of Latvia, said he expects interest rates to be increased “substantially” at the ECB Governing Council meetings to be held in February and March.

“I think we will still be taking quite big steps in the next two meetings,” said Kazaks.

The ECB raised interest rates by 250 basis points in 2022. Markets are pricing in increases of 50 basis points each in February and March.

foreks.com

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