- European interest rates will not necessarily be cut next month, said Robert Holzmann, governor of the Austrian central bank and a member of the European Central Bank's governing council, even though many of his colleagues have indicated they will.
- “As always, I reserve my reservations until the day of the decision, and we will have a number of data,” Holzman said at the Fed’s annual economic conference in Jackson Hole.
- “I can’t say it’s a foregone conclusion – certainly some of my colleagues are thinking about it,” the hawkish Austrian central bank governor said in an interview with Bloomberg.
- “I think we have to look more carefully at the data, I hope we can do that, I'm not against cutting, I'm just afraid I don't want to cut too early,” he added.
- This July, Christine Lagarde, President of the European Central Bank, said that the bank needed more time to conclude that inflation was firmly on track towards its 2% target and that good economic developments suggested that a rate cut was not urgent.
- Speaking at the Jackson Hole Symposium, US Federal Reserve Chairman Jerome Powell said on Friday that it was time to cut interest rates, a move that boosts expectations of a US rate cut in September.
