ECB Governing Council member Kazimir: Inflation risks are clearly skewed to the upside and we will not hesitate to raise rates further if necessary

⑴ European Central Bank Governing Council member Kazimir stated that if necessary, the European Central Bank will not hesitate to further raise interest rates, but determining the next move will still take time. ⑵ Kazimir believes inflation risks are “clearly tilted to the upside.” While stronger-than-expected economic growth is one factor, energy remains the main source of inflation risk, with particular attention paid to natural gas and electricity prices.