Martins Kazaks

speaker

82 appearances 1 recordings 1 series first heard Jan 2026 last heard 15 Jan

Martins Kazaks’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

Appearances

newest first · ▶ plays the moment

Bloomberg Talks · ECB's Kazaks Talks Central Bank Pressure · 15 Jan 2026 podcast

This is bad news because central bank independence is very critical for central banks to deliver good monetary policy.

So the typical outcome that we see from the past experience is

with undermining central bank independence would be inflationary bias and potential risk of the anchoring of expectations, which means that the adjustment through monetary policy might be more painful to the economy because one of the elements that we've seen in the past inflationary phase, especially in Europe,

has been unexpectedly low sacrifice ratios.

And one of the reasons has been the credibility of the central bank policy that has allowed to move rates less to bring inflation down.

So this is by all means bad news.

Well, I would not speculate on that, but I think let's be calm and really be aware in terms of the European case as well that the independence of central banks and accountability, of course, of central banks as well has allowed to deliver on the mandate.

And that's why in terms of monetary policy in Europe, we are in a good place.

And an important element of that has been independence of the central bank.

Independence of the central bank, in my view as well, allows to learn from mistakes because then the assessment of the policy errors is frank and it is analysis-based.

It's not politically driven.

So this is an advantage to have

independent monetary policy rather than a burden.

Yes, the risks are there, in my view, and they are very strong, especially if the policies become more short-termistic.

They are more populist, and then, you know, you do not value the stability and delivery of the long-term policy efficiency.

This is certainly a worry, but the outcome from such a move...

would of course be negative for the European population.

So that would be a very bad choice.

Things can happen in any country, and the politics could move.

But this has been the track record that we have been delivering recently,

Showing 1–20 of 82 · page 1 of 5