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6/28, 11:14 AM (Source: TeleTrader)
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ECB's Kazaks doesn't exclude 50 bps hike in July

Bank of Latvia Governor Martins Kazaks said on Tuesday he wouldn't exclude the possibility of the European Central Bank increasing its key interest rates by more than the expected 25 basis points.

In an interview with Econostream, Kazaks noted that the base scenario would be for the ECB to hike rates by 25 basis points in July and another 50 basis points In September, however adding that this isn't "necessarily how we should ultimately move."

Kazaks asserted that the ECB's rate decision would be based upon the data, with inflation a key indicator of how the central bank should move forward. "With inflation risks on the upside, we may need to make a somewhat stronger decision," he said.

Baha Breaking News (BBN) / ND