{"id":53659,"date":"2023-09-16T22:43:08","date_gmt":"2023-09-16T22:43:08","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last"},"modified":"2023-09-16T23:47:47","modified_gmt":"2023-09-16T23:47:47","slug":"ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last","title":{"rendered":"ECB\u2019s Holzmann says latest interest rate hike might not be last"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Stubborn euro-area inflation could force the European Central Bank (ECB) to raise interest rates again, according to Governing Council member Robert Holzmann.<\/p>\n

The Austrian policymaker defended the decision to lift the deposit rate for a tenth straight time this week and said the conclusion that the current level of borrowing costs will substantially advance the fight against price rises shouldn\u2019t be understood as the ECB going soft.<\/p>\n

\u201cWe definitely can\u2019t say that this was the final hike,\u201d Holzmann said in an interview in Santiago de Compostela, Spain, where he\u2019s attending a gathering of European finance chiefs. \u201cThe likelihood isn\u2019t big, but there is a risk more tightening might be needed.\u201d<\/p>\n

The comments put Holzmann in line with other central bank governors who have warned against taking a break from tightening too soon.<\/p>\n

Slovenia\u2019s Bostjan Vasle said on Friday he wouldn\u2019t rule out the need for further hikes, while Bank of Latvia head Martins Kazaks argued that another increase may yet be necessary.<\/p>\n

The ECB\u2019s president, Christine Lagarde, said after the latest rate decision that it\u2019s too soon to say if the peak has been reached.<\/p>\n

Others signaled they believe the ECB has finished hiking for now. Vice President Luis de Guindos and Estonian central bank head Madis Muller both said current levels may be sufficient to return inflation to the institution\u2019s medium-term target of 2%.<\/p>\n

Economists are united in their assessment that the ECB is done raising rates, and traders were betting within minutes of the policy announcement that another hike was increasingly unlikely.<\/p>\n

\u201cLooking at some of the reactions to our decision, one could think we agreed on a dovish hike,\u201d said Holzmann. \u201cI don\u2019t agree with such an interpretation, especially given that inflation risks haven\u2019t receded of late.\u201d<\/p>\n

The economic outlook has deteriorated quickly over the past weeks, however, a situation that\u2019s kept economists and investors in suspense over whether the ECB would go through with its latest increase.<\/p>\n

\u201cIt wasn\u2019t an easy decision and in order to come to an agreement we had to weigh all arguments very carefully,\u201d Holzmann said. \u201cThat\u2019s why I believe we can be satisfied with the result.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Stubborn euro-area inflation could force the European Central Bank (ECB) to raise interest rates again, according to Governing Council member Robert Holzmann. The Austrian policymaker defended the decision to lift the deposit rate for a tenth straight time this week and said the conclusion that the current level of borrowing costs will […]<\/p>\n","protected":false},"author":84,"featured_media":53658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,6227,6228,1015,1977,275],"class_list":["post-53659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-european-central-bank","tag-european-markets","tag-inflation","tag-interest-rates","tag-south-africa-2"],"yoast_head":"\nECB\u2019s Holzmann says latest interest rate hike might not be last - South Africa<\/title>\n<meta name=\"description\" content=\"Stubborn euro-area inflation could force the European Central Bank (ECB) to raise interest rates again, according to Gov ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECB\u2019s Holzmann says latest interest rate hike might not be last\" \/>\n<meta property=\"og:description\" content=\"Stubborn euro-area inflation could force the European Central Bank (ECB) to raise interest rates again, according to Gov ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-16T22:43:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-16T23:47:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/09\/sm_1694891679.313932.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ECB\u2019s Holzmann says latest interest rate hike might not be last\",\"datePublished\":\"2023-09-16T22:43:08+00:00\",\"dateModified\":\"2023-09-16T23:47:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\"},\"wordCount\":392,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/09\/sm_1694891679.313932.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"european central bank\",\"european markets\",\"inflation\",\"interest rates\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ecbs-holzmann-says-latest-interest-rate-hike-might-not-be-last\",\"name\":\"ECB\u2019s Holzmann says latest interest rate hike might not be last - 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