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ECB's Kazaks says must not allow inflation to remain above 2% into 2026

2024-06-21FXStreetFXStreet
European Central Bank (ECB) Governing Council member Martins Kazaks said on Sunday that the bank must not allow inflation to remain above 2% into 2026, adding that he is concerned about delays beyond this.

European Central Bank (ECB) Governing Council member Martins Kazaks said on Sunday that the bank must not allow inflation to remain above 2% into 2026, adding that he is concerned about delays beyond this.

Key quotes

“Currently I think we are still on the path to 2% in the second half of 2025, and I would really hope that we would do it by that time.”

“We should not drag this problem into 2026.”

“If data show that reaching our target is being pushed out beyond 2025, then of course the restriction level needs to be maintained for longer so that we can avert those kind of outcomes.” 

Market reaction 

At the time of press, the EUR/USD pair was down 0.01% on the day at 1.0704. 

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