European Central Bank Kazaks: Currently close to the terminal interest rate.

Member of the European Central Bank's Governing Council Martins Kazaks said that if the inflation rate rises to the 2% target this year, the path to reducing borrowing costs in the eurozone is close to its end. The Latvian central bank governor said on Friday that there may still be "several" cuts to the deposit rate from the current 2.25% this year. However, he warned that policymakers should not act too hastily, given the uncertain global trade situation. "We are relatively close to the end point rate in the ECB's baseline scenario," Kazaks said, but uncertainty remains high, so "there is no need to hurry."