ECB’s Kazaks: Rates to remain at 4.00% for some time, first rate cut could come around mid-2024

The European Central Bank (ECB) Governing Council member Martins Kazaks said late Wednesday that the central bank needs to keep interest rates at the current level for some time, but the first rate cut could come later than investors are pricing around the mid-2024 Key quotes “Most likely it looks like in the middle of next year — in June or July,” “But in the spring at the current moment that’s too early.” “The pace of rate cuts is really dependent on how the economy really behaves and what happens to the