ECB Doesn’t Need to Cut Rates Any Further, Holzmann Tells MNI

The European Central Bank doesn’t need to continue easing policy as borrowing costs may already be providing stimulus to the economy, according to Governing Council member Robert Holzmann.

“There is no reason at the moment why a further cut should take place — definitely not at the next meeting, and also for the rest of the year,” the Austrian central-bank chief was cited as saying in an interview with Market News. He added that under his assessment, the current level of borrowing costs “puts us at least at neutral, but quite likely in expansionary territory.”