ECB Governing Council member Martins Kazax said that the ECB has plenty of time to analyze inflation trends. Kazaks said that the upward pressure on short-term inflation will still be stronger, but the ECB is not lagging behind the situation and is in an advantageous position. After two rate hikes, ECB officials are discussing next policy steps. Some officials believe that if inflation is to fall back to the 2% target, policies may need to be further tightened.

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