Robert Holzmann, governor of Austria’s central bank, speaks during an event in Vienna, Austria, on Tuesday, Sept. 26, 2023.
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The European Central Bank may defy market expectations and hold off on starting interest rate cuts during the whole of 2024, the institution’s Governing Council member Robert Holzmann said Monday.
Asked about those who call for the first rate cut to take place as soon as April, Austria’s central bank governor told CNBC, “I’m afraid, leaving Davos, those people will be deeply disappointed.”
Speaking to CNBC’s Steve Sedgwick at 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.”
This is a developing story. Please check back for updates.
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