ECB's Kazāks says confident about monetary policy but preaches patience for now

<ul><li>Interest rates should start to go down</li><li>But ECB is in no rush to begin the process for now</li><li>Cutting rates too early would be by all mean worse than waiting just a bit</li><li>There’s the risk that inflation starts to come back and then one would need to raise rates much more</li></ul><p>This fits with the earlier remarks from his peers but markets are still sticking to their guns. A rate cut for April is still ~91% priced in at the moment. The euro has moved off earlier lows but it owes more to a decline in the dollar on the session.</p>

This article was written by Justin Low at www.forexlive.com.