Robert Holzmann, President of the Austrian Central Bank.
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On Saturday, ECB Governing Council member Robert Holzmann said the next ECB interest rate cut may be longer after a recent rise in inflation.
“At the moment I don’t think there will be a rate hike. However, what may happen is that the next rate cut will take longer,” Holzmann told Austrian newspaper Courier.
The euro zone’s annual inflation rate accelerated to 2.2% in November from 2.0% a month ago, above the European Central Bank’s 2% target interest rate.
Austrian Central Bank President Holzmann said: “Yes, there are signs of an upward trend in some energy prices. But there are other scenarios for how inflation may return, such as further depreciation of the euro.”
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