Kazaks Says ECB Can Watch Economy With Rates in Good Place

The European Central Bank has entered a new monetary-policy phase where officials can focus on monitoring the economy rather than actively intervening to change its course, according to Governing Council member Martins Kazaks.

With inflation at the 2% target and recent data not signaling a marked shift in the outlook since June’s quarterly projections, there’s currently no need to cut interest rates further, Kazaks said in an interview in Jackson Hole, Wyoming, where he’s attending the Federal Reserve’s annual symposium.