ECB/Holzmann: Any Interest Rate Cut Next Week Will Be Moderate

Forex - Austrian Central Bank President and ECB Governing Council member Robert Holzmann stated that any interest rate cuts in the upcoming decision by the European Central Bank would be "moderate."

Speaking to Oberösterreichische Nachrichten, Holzmann said, "What can be said at the moment is that inflation developments are moving in the right direction, but there have been some recent upward deviations." He acknowledged that while inflation is progressing in the right direction, there have been some increases recently, and he indicated that the current geopolitical situation suggests inflationary pressures are "more likely than not."

Holzmann added, "This could be due to oil or other energy prices. It could also be related to President Trump's administration."