European Central Bank Governing Council member Martins Kazaks said the current level of interest rates remains appropriate and that there is no pressing need for further easing unless the euro-area economy suffers a significant setback. In an interview published Friday, Kazaks argued that any future adjustment would be “nothing big,” framing potential moves as fine-tuning rather than a return to the large hikes or cuts that characterised previous cycles. He added that the euro’s recent appreciation is still within historical norms but said a sharp and sustained rise could strengthen the case for a modest rate cut. Kazaks’s remarks reinforce the ECB’s wait-and-see stance after its most recent quarter-point reduction in June, signalling that policymakers prefer to assess how existing stimulus feeds through to growth and inflation before acting again.