ECB’s Kazaks: The direction of interest rates is clearly down
European Central Bank (ECB) policymaker Martins Kazaks said on Friday that “the direction of interest rates is clearly down.”
Additional quotes
A significant reduction in rates is still necessary.
Neutral rate is closer to 2% than 3%.
It's right to go step by step on rates.
A bigger rate cut is possible if required.
Market reaction
At the time of writing, EUR/USD is trading modestly flat on the day near 1.0470.
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