ECB's Kazaks: May Need To Tighten More If Energy Situation Persists

No Need For ECB To Slow Or End Quantitative Tightening - Higher Government Bond Yields May Slow Economy - France Bond Stress Is A Repricing Of Fiscal Risk - Monetary Policy Still Needs Some Hawkish Edge - Inflation Likely To Go Significantly Past 4% In 2027 - Still Appropriate To Act In A Gradual Way - Policy Must Stop Energy Inflation Spilling Over - Must Remain Vigilant, Cautious