[ECB Governing Council Member Kazimir: Markets May Underestimate Further Rate Hikes] Peter Kazimir, a member of the ECB Governing Council and President of the Central Bank of Slovakia, stated that the market may be underestimating the tightening measures the ECB needs to take to bring inflation back to its target and maintain it at that level. He pointed out that the energy price shock has not yet subsided, inflation is rising again, and upside risks cannot be ignored; slower economic growth may not be enough to curb inflation on its own. Kazimir stated that the ECB's pause in rate hikes last week was not the end of the tightening cycle; the key now is not just whether to take further action, but how much more rate hikes are needed. ECB President Christine Lagarde previously stated that the policy direction is clear.