- I would not read too much into small deviations from a desired inflation path
- I see the risk as broadly balanced for both the economy and inflation
- Our next move could, in principle, be in either direction, depending on the signals we receive
Kazimir has been neutral for a long time but this is the core view of the majority of ECB members: they won't react to small or short-term deviations from their 2% target.
Moreover, there are a few members who would be open for rate hikes in 2026 if inflation were to accelerate.
