Possible there will be no rate cuts this 12 months, European Central Bank member says


Robert Holzmann, governor of Austria’s central financial institution, speaks throughout an occasion in Vienna, Austria, on Tuesday, Sept. 26, 2023.

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The European Central Bank might defy market expectations and maintain off on beginning curiosity rate cuts throughout the entire of 2024, the establishment’s Governing Council member Robert Holzmann stated Monday.

Asked about those that name for the primary rate lower to happen as quickly as April, Austria’s central financial institution governor informed CNBC, “I’m afraid, leaving Davos, these folks will be deeply disenchanted.”

Speaking to CNBC’s Steve Sedgwick on the World Economic Forum in Davos, Switzerland, he added, “I can not think about that we’ll speak about cuts but, as a result of we should always not speak about it. Everything we’ve got seen in latest weeks factors in the wrong way, so I’ll even foresee no lower in any respect this 12 months.”

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