ECB Governing Council member Robert Holzmann told Austrian broadcaster ORG on Sunday, “the economy will grow less strongly, the forecasts point in this direction, that has made us somewhat cautious.”
“We will see in the autumn what the economic situation is. Then we can probably decide if we do another 0.5% (rate hike) or less,” he added.
He also noted that ECB might have to accept a moderate recession to curb inflation. “We hope that won’t become necessary,” he said.
