ECB’s Kazimir says 50bp rate hike needed

ECB Governing Council member Peter Kazimir has said the central bank needs to raise rates by 50bp in September.

Kazimir said on June 13th, “in the autumn…in September, we will continue with raising rates and here I clearly see the need to accelerate the pace and deliver an increase by 0.50%.”

“From my point of view, it is more reasonable to act preventively than scratch our heads afterward why we lingered. Incoming data just reassure me that there is no reason to hesitate. Negative interest rates must be the past in September.”