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ECB Needs ‘Resolute’ Hike of at Least a Half-Point, Kazaks Says

  • Second-round effects are emerging, Latvian central banker says
  • Weak exchange rate is a problem in tackling inflation
The European Central Bank headquarters in Frankfurt.

The European Central Bank headquarters in Frankfurt.

Photographer: Alex Kraus/Bloomberg

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The European Central Bank needs to act forcefully and raise interest rates by at least a half-point next month to bring inflation back under control, according to Governing Council member Martins Kazaks.