Martins Kazaks, a member of the Council of the European Central Bank, has announced that the rate of interest rate reduction by the European Central Bank should be consistent with the gradual reduction of inflation in the Eurozone.

According to Amac News: In an interview with Bloomberg Adria, this Latvian official said that June is the right time to start reducing borrowing costs.
"The baseline scenario shows that we are gradually getting closer to our 2 percent target, which of course means that we can also start to gradually cut rates," Kazaks said. "This process should be cautious and gradual and we should not rush."
Policymakers across the region believe June will be the first of a series of interest rate cuts aimed at removing some of the constraints needed to bring inflation back above 10 percent.
He said the ECB's approach of looking at the numbers and then making decisions on a meeting-by-meeting basis "has been the right approach so far".