ECB’s Kazaks: We are committed to our target of 2% and we shall deliver it

Dhwani Mehta FXStreet

The European Central Bank (ECB) Governing Council member Martins Kazaks said on Wednesday, ‘we are committed to our target of 2% and we shall deliver it.”

“Our current outlook forecasts that we will achieve it in the second half of 2025. We are very clear on our target and of course we are determined and we shall reach it,” Kazaks added.

The policymaker said that he “can't exclude the possibility that further rate hikes may be needed.”

Market reaction

EUR/USD is holding lower ground near 1.0660 despite the upbeat remarks from the ECB official. The pair is down 0.36% so far.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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