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OeNB Chairman Holzmann in order to raise the interest rate again

OeNB Chairman Holzmann in order to raise the interest rate again

From the point of view of the Austrian Central Bank Governor, the European Central Bank (ECB) may in view of inflation in the euro area Robert Holzman Don’t give up on the path of higher interest rates. A member of the European Central Bank’s Governing Council said in a presentation to a conference in Vienna on Wednesday that rates would have to rise significantly more in order to reach a sufficiently restrictive level.

Reaching the 2% target

This is necessary to achieve a timely return of inflation to the medium-term target of 2%. At 9.2 percent, inflation in the eurozone in December was still more than four times the inflation target set by the euro central bank.

Holzman predicts that inflation is weakening. The offer said that due to the high level of uncertainty, the risks are still trending upwards. Eurozone watchdogs got a bit off the gas in December. After two large rate hikes of 0.75 percentage points each, they raised the key interest rate by 0.50 percentage points.

European Central Bank President Christine Lagarde promised to raise interest rates. In doing so, it indicated that half-percentage-point increases would likely also be on hold at future meetings. The next European Central Bank interest rate meeting is scheduled for February 2nd.

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