ECB'S KAZAKS: A SIGNIFICANT REDUCTION IN RATES IS STILL NECESSARY

ECB'S KAZAKS: A SIGNIFICANT REDUCTION IN RATES IS STILL NECESSARY
Latvia's central bank governor Martins Kazaks emphasized that a substantial reduction in rates is still required.
Kazaks stated that the neutral interest rate is closer to 2% than 3%.
The overall direction for interest rates remains downward.
Kazaks believes it is appropriate to adjust rates gradually, step by step.
He indicated that a bigger rate cut could be possible if necessary.