European Central Bank Governing Council member Kazimir said that the interest rates will only be adjusted if there are significant changes in the economic outlook.

European Central Bank Governing Council member Peter Kazimir said that interest rates should only be adjusted when there are major changes in economic outlook. Kazimir stated in a commentary on Monday, "At present, the baseline scenario remains valid. I would not consider revisiting policy settings unless there is a significant deviation from the baseline scenario." The European Central Bank last week kept interest rates unchanged, with President Lagarde playing down the impact of the recent appreciation of the Euro and reaffirming that inflation is in a "good state". Similarly, Gediminas Simkus, the Governor of the Bank of Lithuania and also a member of the Governing Council of the European Central Bank, said earlier on Monday that unless there are shocks, the European Central Bank "will continue along the predicted path." Despite Kazimir's warning of further economic volatility in the future, he agreed with Lagarde's assessment of the impact of prices and the Euro exchange rate.