ECB will continue to hike rates to slow inflation, Kazaks says

Kazaks, who heads Latvia’s central bank, also said that it would be more painful to let inflation continue. “To fight inflation you need also fiscal policy and structural policy."

The euro-area economy grew slightly less than initially estimated in the second quarter as signs continue to emerge that momentum is unravelling. Picture: Alex Kraus/Bloomberg

The European Central Bank will continue to hike interest rates, according to Governing Council member Martins Kazaks.

“At the moment what we see is that that inflation is unacceptably high, in Latvia above 20%,” Kazaks said in an interview with Latvia’s TV3.