ECB’s Kazimir: Rate Hike Is Unavoidable

Kazimir's framing matters less for the hike itself than for what he flags as decisive: the January repricing and energy pass-through, not broad demand. That puts the burden on wage and services data to validate the call, since a slowing economy would normally argue against further tightening. The open question is whether other Governing Council members converge on his energy-driven logic or treat it as a minority view, which would shape how much the terminal rate is already priced.