ECB’s Holzmann signals more (and more) that interest rates will rise in the future – adds that they are data dependent

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Robert Holzmann is the Governor of the Austrian Central Bank (Oesterreichische Nationalbank (OeNB)) and therefore also a member of the Governing Council of the European Central Bank (ECB).

His remarks cross the wires of press. He talks tough.

  • ECB rates will be higher in a year
  • rate moves are data driven
  • the European Central Bank underestimated the pace of inflation gains
  • the Bank could have started increasing earlier, but existing forward guidance limited Bank action
  • the Bank has shown itself ready to go beyond expectations
  • there is a possibility of stagflation in the eurozone

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