ECB’s Holzmann: A Cut in December is ‘Possible’, But Not Automatic

11 November 2024

ECB’s Holzmann: A Cut in December is ‘Possible’, But Not Automatic
Robert Holzmann, governor of the National Bank of Austria, at the ECB’s Governing Council in Ljubljana on October 16, 2024. Photo by Andrej Hanžekovič/ECB.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council Robert Holzmann said on Monday that a cut in December was possible but not inevitable.

In an interview with Austrian daily Kleine Zeitung, Holzmann, who heads the National Bank of Austria, said, ‘As things look at the moment, it [a cut in December] is possible.’

Despite the absence of arguments against such a move for the moment, Holzmann indicated that this was not to suggest any automaticity about a December cut.

‘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.

As to Donald Trump’s victory in the US presidential election, Holzmann said he did not anticipate the ‘burial of world trade’, but acknowledged the existence of a ‘danger of stronger bloc formation’.