ECB's Kazaks (Latvia, hawk): ECB should discuss 50 and 75 bps hikes in Sept, and should raise by at least 50 bps - Jackson Hole comments
- "Frontloading rate hikes is a reasonable policy choice. We should be open to discussing both 50 and 75 basis points as possible moves."
- "If we see that we need to go beyond the neutral, I have no doubt we will. If we don’t see significant decreases in core inflation, we may need to go beyond the neutral. But let’s not get ahead of ourselves."
- "With this high inflation, avoiding a recession will be difficult, the risk is substantial and a technical recession is very likely. In Latvia, a recession is part of a baseline scenario."