ECB Governing Council member Robert Holzmann emphasized there should be no presumption of rate reductions in the coming year.
Holzmann stated, “Even if the ECB is past an unprecedented series of ten consecutive rate increases, there is also for the year 2024 no guarantee of rate reductions.”
Further reinforcing this cautious approach, Holzmann remarked on the current status of inflation and the ECB’s policy measures, “Monetary policy normalization is already showing its impact on slowing inflation, but it would still be premature to think about rate cuts.”
