ECB’s Kažimír: ‘Expecting a Cut in Q1/24 Is Science Fiction’
6 December 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Peter Kažimír on Wednesday derided the idea that the ECB might cut interest rates as early as next quarter.
In a comment issued on the website formerly known as Twitter, Kažimír, who heads the National Bank of Slovakia, said, ‘I agree with Isabel Schnabel that incoming inflation data support the idea that additional tightening won’t be needed. However, expecting a cut in Q1/24 is science fiction.’
The reference to ECB Executive Board member Isabel Schnabel concerned her relatively dovish comments earlier in the week. In particular, she declined to push back against expectations of initial monetary policy easing in the euro area in the first half of next year.