Holzmann of the ECB: I Would Have Preferred More Rapid Rate Action

"Robert Holzmann, an European Central Bank(ECB) policymaker and fiscal hawk, said in remarks released on Thursday that he would have preferred earlier interest rate action than the ECB's current plan to raise them in July for the first time in more t

July 01, 2022 - 01:11 PM 324 views

Holzmann of the ECB: I Would Have Preferred More Rapid Rate Action

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© Holzmann of the ECB: I Would Have Preferred More Rapid Rate Action

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"Robert Holzmann, an European Central Bank(ECB) policymaker and fiscal hawk, said in remarks released on Thursday that he would have preferred earlier interest rate action than the ECB's current plan to raise them in July for the first time in more than a decade.

According to Reuters, ECB's Holzmann also stated in an interview with the Austrian weekly Oberoesterreichische Nachrichten that he would have preferred earlier interest rate movements but that he is only one of 25 members of the Governing Council."

Key Comments

The outcome of wage discussions is unknown.

Reaching the target inflation rate of 2 percent will take some time.

 The Market Reaction

The EUR/USD was last seen retracing the largest daily gains in a fortnight at about 1.0480, suggesting that the news did not help the Euro.

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