ECB Interest-Rate Hikes Must Persist Into Next Year, Kazaks Says

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.European Central Bank Governing Council member Martins Kazaks said interest rates should be raised beyond year-end — a time when economists increasingly expect the euro zone to be in the midst of a recession.The reason for the prolonged hawkish stance, according to the Latvian official, is that elevated inflation is likely to persist despite a downturn. He backs a hike of 75 basis poin
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