ECB's Holzmann against 50bp rate cut in Dec. - Breaking The News

ECB's Holzmann against 50bp rate cut in Dec.

23 October

1 min read

EPA-EFE/FRIEDEMANN VOGEL

Member of the European Central Bank (ECB) Governing Council and Austrian National Bank (OeNB) Governor Robert Holzmann stated on Wednesday that the incoming data does not show that a 50-basis-point reduction in the former institution's interest rates at its meeting in December would be justified.

Speaking to CNBC, Holzmann said that some other members of the Governing Council might support a significant cut in the rates in December. Still, he insisted that market pricing of the lowering could be "too aggressive." Holzmann added that he considers a soft landing for the Eurozone's economy "guaranteed."

Previously, Holzmann's ECB fellows Mario Centeno and Francois Villeroy de Galhau warned about the risk of inflation overshooting below its target.

inflation interest rate ecb holzmann

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