-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessRPT-MNI INTERVIEW: ECB Has "Nice Path” To 2%–Kazaks
(Repeats story first published on July 3)
The European Central Bank is sitting “quite nice on the path” to reach sustainable 2% inflation in the second half of 2025, but policymakers must not allow themselves to settle on achieving their target any later, Bank of Latvia Governor Martins Kazaks told MNI.
“There is a path to 2%. Not a unique, predetermined path, we can be flexible how we go about it, how the data arrives, but we are quite nice on the path to 2%,” he said in an interview on the sidelines of the ECB’s forum in Sintra.
Market pricing for one or two more cuts in 2024 is consistent with the ECB’s baseline scenario, said Kazaks, adding that policy action “would be in that ballpark,” assuming economic data is roughly in line with projections.
“We are closer to a situation that is more standard, currently no new major shocks, and that is one of the reasons our forecasts are getting more precise,” he said, noting that the ECB has learned from the energy crisis and other recent non-linear shocks.
GAINING FUTURE CREDIBILITY
Returning inflation to target next year will add to the ECB’s credibility with consumers despite the sharp deviation from decades of near-steady prices, Kazaks said.
“In terms of credibility, if we pull this through, as it currently looks like, then I think we should have gained credibility and that might make our next job somewhat easier. Because we have a proven track record”, he said, adding that the recent inflation spike was “the first true test” of the inflation-targeting regime.
“If we reach 2% in the not-too-distant future, we will have passed the test with relatively good grades,” he said, stressing the importance of hitting 2% by no later than the end of 2025.
“If you get pushed away from 2% before hitting the target, then people might say ‘ah, they didn’t really try’, which is not the case,” he said.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.