16 July
ECB’s Holzmann sees no need for further rate cuts
Robert Holzmann, a member of the European Central Bank’s (ECB) Governing Council, stated that no further monetary easing is needed in the region, as current borrowing costs are already providing stimulus to the economy of the bloc.
After eight rate cuts since June 2024, the ECB is expected to hold rates steady at its July meeting. Holzmann’s term expires in August, Bloomberg reports.
The ECB official stated that if inflation continues to drop, the central bank will have to take decisive action. In that scenario, rate cuts, not asset purchases, would be the appropriate response. The eurozone central bank’s next moves will depend on US trade policies.
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