European Central Bank board member Kazaks: The European Central Bank is not in a hurry to raise interest rates.

Martin Kazaksis, a member of the European Central Bank's management committee, said in a media interview that there is currently no need for an emergency rate hike, as the existing economic data is not sufficient to support a rate hike. The current benchmark interest rate is 2%. Kazaksis said, "We still have plenty of time to collect data and assess the direction of future policies." He pointed out that current inflation expectations are generally under control, and so far, the impact of rising energy prices on other sectors of the economy has been limited. He added that international oil prices have fallen from their highs following the conflict in the Middle East, and European natural gas prices are also much lower than they were in 2022. Kazaksis said that the current interest rate level is just right, as it will neither stimulate economic growth nor suppress it.