MNI BRIEF: ECB Edging Closer To Lower Rates - Kazaks

The ECB is getting closer to lower interest rates, barring external shocks, but for now policymakers remain "data dependent, not date dependent" Latvia central bank head and Governing Council member Martins Kazaks said Friday.

His comments came the day after the ECB held its policy rates for a third straight meeting, but offered no formal guidance on when rate cuts could start (MNI ECB WATCH: ECB Holds Rates, Says Too Early To Discuss Cuts).

Kazaks told Bloomberg TV the potential for supply-side shocks was a reason for patience, but that the "Red Sea issue" had been contained for now. He again noted inflation continued in a slowing trend and would slow further this year. He noted that wages and the labour market were not the only data points being watched, but said there were signs that the strong labour market was showing signs of topping out. (MNI SOURCES: "Biggest Minority" Favours ECB June Cut)