ECB’s Kazimir cites no urgency to cut rates again

Slovak ECB Governing Council member Peter Kazimir pushed back against expectations of a September rate cut, stating he doesn’t foresee any data “significant enough” to warrant action in the near term. Writing in a blog post, Kazimir, one of the more hawkish voices on the Council, emphasized that only clear signs like “unravelling in the labour market” would prompt him to support another cut.

Kazimir acknowledged that the US–EU trade deal brings a degree of stability, noting it “can help to ease concerns and regain confidence,” but cautioned that it’s too soon to judge its inflationary implications. He added that while inflation may dip below target in the coming year, he sees “no looming spectre of a sustained undershooting,” reinforcing his preference to wait and assess.