Potential to don’t have any price cuts this yr: European Central Financial institution member

Robert Holzmann, governor of Austria’s central financial institution, speaks throughout an occasion in Vienna, Austria, on Tuesday, Sept. 26, 2023.

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The European Central Financial institution might defy market expectations and maintain off on beginning rate of interest cuts throughout the entire of 2024, the establishment’s Governing Council member Robert Holzmann stated Monday.

Requested about those that name for the primary price lower to happen as quickly as April, Austria’s central financial institution governor informed CNBC, “I’m afraid, leaving Davos, those people will be deeply disappointed.”

Chatting with CNBC’s Steve Sedgewick on the World Economic Forum in Davos, Switzerland, he added, “I cannot imagine that we’ll talk about cuts yet, because we should not talk about it. Everything we have seen in recent weeks points in the opposite direction, so I may even foresee no cut at all this year.”

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