ECB’s Holzmann hints at possibility of December rate cut

European Central Bank Governing Council member Robert Holzmann said an interest rate cut in December is likely but by no means guaranteed, according to an interview with Klein Zeitung published on Sunday.

“As things currently stand, the possibility exists, there is nothing at the moment that speaks against it, but that does not mean it will happen automatically,” the head of the Austrian central bank was quoted as saying by the newspaper.

The ECB has cut borrowing costs three times since June and is widely expected to do so again next month. Holzman is one of the most hawkish officials and was the only dissenter on the initial rate cut.

Commenting on Donald Trump’s victory in the US presidential election last week, Holzman said that “it can be assumed that Trump will carry out his plans to introduce tariffs – high against China, not as high against the rest of the world and Europe, but still significant. ”