Central Banks
ECB Must Avoid Doing Undue Damage to Economy, Kazaks Says
- ‘The path for interest rates is clearly down,’ he says
- Latvian central-bank chief speaks in interview in Washington
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The European Central Bank mustn’t keep interest rates too high for too long, according to Governing Council member Martins Kazaks, who said weakness in the euro-zone economy is now his “single biggest concern.”
“We shouldn’t hold rates at high levels for longer than necessary — because otherwise we would do more damage than necessary to the economy and to citizens,” the Latvian official said in an interview at the International Monetary Fund annual meetings.