ECB’s Kazaks Says First Rate Cut Could Come Around Mid-2024

The European Central Bank needs to keep interest rates where they are for some time yet but a cut could come around the mid-2024 — later than investors are pricing, according to Governing Council member Martins Kazaks.

“Most likely it looks like in the middle of next year — in June or July,” Kazaks told Latvia’s public broadcaster in an interview broadcast late Wednesday. “But in the spring at the current moment that’s too early.”