Economics
ECB’s Holzmann Sees No Rate Rise Need on Price Outlook: Kurier
- Policy maker cites lower inflation forecasts starting in 2022
- A challenging phase as economies pick up from Covid crisis
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Projections for inflation to taper off beyond 2021 suggest there is “no occasion to raise interest rates” for now, European Central Bank Governing Council member Robert Holzmann said in an interview with an Austrian newspaper.
Rates would need to rise if inflation approaches 2% on a “sustained basis,” Der Kurier cited Holzmann, governor of the Austrian central bank, as saying. He referred to ECB projections for euro-area annual inflation to decline from 1.9% this year to 1.5% in 2022 and 1.4% in 2023.