Martins Kazaks: “ECB Will Take Calm Actions”

Evaluating the agenda, European Central Bank Governing Council Member Martins Kazaks said, "It is natural to see increasing uncertainty and volatility. We must go through this process with a calm mind and show the markets where we are going."

Martins Kazaks, Member of the European Central Bank Governing Council, noted that the bank is ready to fight inflation, and on the other hand, it should be ready to examine the turbulence that may occur at the exit from negative interest rates. “It is natural to see increased uncertainty and volatility. We should go through this process with a calm mind and show the markets where we are going.” said Kazaks, Governor of the Central Bank of Latvia. The market should not be swept away by the rapid pricing of higher interest rates, Kazaks said, adding that it is reasonable for volatility to increase after all the interest rate has not climbed for years. In his assessment of inflation in the past months, Kazaks said, “No one should get the impression that we will not increase interest rates or withdraw support if necessary. Whatever our task is, we will fulfill it. We shouldn't confuse the markets. The step-by-step approach is very important.”