Robert Holzmann is the Governor of the Austrian central bank and a member of the Governing Council of the European Central Bank.
He spoke on Friday, basking in the glory of Thursday's ECB rate cut:
He spoke later that same day, taking a tough stand:
- “The job of the ECB is not to stimulate the economy, the job of the ECB is price stability,”
- “Reducing rates now would be an economic blow to our position.”
Holzmann is one of the most hawkish ECB Governing Council members. So it wasn't just stupid.
Even so, there will be plenty more ECB rate cuts to come in 2025.
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