European Central Bank committee member Kazaks stated that if economic development requires it, the extent of rate cuts may be increased. Although Kazaks believes a gradual approach is appropriate, he warned that geopolitical and war impacts could bring new dynamics to inflation. In a blog post on Friday, Kazaks said, "If necessary, this extent could also be greater than 0.25%." "The current approach—based on data and analysis/decisions from each meeting—is very suitable for this situation." Kazaks also indicated that the future direction of interest rates is clear: downward. The neutral rate is closer to 2% rather than 3%, so there is still a need for significant cuts in interest rates.