No reason not to cut rates in Dec as of now, ECB’s Holzmann tells paper

Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Banking

Posted By Uma Rajagopal

Posted on November 11, 2024

No reason not to cut rates in Dec as of now, ECB’s Holzmann tells paper

VIENNA (Reuters) – As things currently stand, there is no reason for the European Central Bank not to cut interest rates in December but the decision will be based on the data available then, ECB policymaker Robert Holzmann said in remarks published on Sunday.

Last month the ECB cut interest rates for the third time this year and four sources close to the decision told Reuters a fourth cut was likely in December unless data turned around in the coming weeks.

As things look at the moment, it is possible (that there will be a cut in December). There is nothing at the moment that would argue against that but that does not mean it will automatically happen,” Holzmann, who heads the Austrian National Bank, said in an interview with the Kleine Zeitung newspaper.

“We do not have the latest forecasts and data. We will receive those in December. We will decide on that basis, yes or no,” he said.

Holzmann said last month a week after the latest rate cut that a cut of 25 basis points was possible in December while at the same time repeating that it would depend on the economic data available at the time.

(Reporting by Francois Murphy; Editing by Susan Fenton)

Recommended for you