Robert Holzmann, governor of the Austrian central bank, speaks during an event in Vienna, Austria, Tuesday, Sept. 26, 2023.
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The European Central Bank may defy market expectations and delay the start of interest rate cuts throughout 2024, a member of the institution’s Board of Governors, Robert Holzmann, said on Monday.
Asked about those calling for the first rate cut back in April, the governor of Austria’s central bank told CNBC: “I’m afraid that when I leave Davos, those people will be deeply disappointed.”
Speaking to CNBC’s Steve Sedgewick at the World Economic Forum in Davos, Switzerland, he added: “I can’t imagine we’re going to be talking about cuts yet, because we shouldn’t be talking about it. Everything we’ve seen in recent weeks points in the opposite direction, so this year I may not anticipate any cut at all.”
This is a developing story. Please check for updates.