ECB’s Holzmann: Rate cuts must wait for more tariff certainty

CNBC reported that European Central Bank (ECB) policymaker Robert Holzmann said that euro-zone interest rates should be held until more clarity emerges on the path of US tariffs and EU countermeasures.

Key Quotes

• Rate cuts must wait for more tariff certainty.
• There was a “broad consensus” around lowering rates, but some disagreement at the margins.
• It wasn’t clear yet to what extent [tariff] countermeasures were being taken.
• There may be further cuts this year, but the number is still outstanding.
• While various scenarios remained possible with regard to prices and movement of rates, for the time being direction was downward.