ECB’s Kazimir says major deviation needed for policy change |

Published: Monday, February 9, 2026 · 3:35 PM | Updated: Monday, February 9, 2026 · 3:35 PM

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Investing.com — European Central Bank policymaker Peter Kazimir said on Monday that a significant shift in economic and inflation trends would be necessary for the ECB to.
The statement comes just days after the central bank maintained interest rates at their current levels.
"Looking forward, it would take a major departure from our baseline scenario for me to consider recalibrating the policy setting," Kazimir, who heads Slovakia's central.

Investing.com — European Central Bank policymaker Peter Kazimir said on Monday that a significant shift in economic and inflation trends would be necessary for the ECB to consider altering its monetary policy stance.

The statement comes just days after the central bank maintained interest rates at their current levels.

“Looking forward, it would take a major departure from our baseline scenario for me to consider recalibrating the policy setting,” Kazimir, who heads Slovakia's central bank and is generally viewed as a policy hawk, wrote in a blog post. “For now, the baseline holds.”

Kazimir echoed the ECB's position that inflation risks are balanced, though he noted this assessment depends on favorable energy price developments.

He pointed out that stronger economic growth could create upward pressure on prices, while further appreciation of the euro might act as a drag by reducing import costs.

“Any further appreciation will have to be evaluated against the relative strength of the euro area's economic performance and ultimately our medium-term inflation target,” Kazimir explained.

The central banker added that uncertainty remains exceptionally high, with volatility likely to persist in the coming months amid what he described as a fragile overall situation.

The ECB has kept rates unchanged since ending its rate-cutting cycle in June, maintaining that inflation will remain around its 2% target. This stance has strengthened market expectations that policy will stay steady throughout the year before possible rate increases in 2027.

ECB’s Kazimir says major deviation needed for policy change

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