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☆ ECB's Holzmann tells paper he wants cut in PEPP reinvestments from March
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: 1 min

European Central Bank policymaker and Governor of the Austrian National Bank Robert Holzmann addresses the media in Vienna, Austria, March 23, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA, Nov 24 (Reuters) - European Central Bank policymakers should discuss at their meeting next month whether to wind down bond reinvestments under the Pandemic Emergency Purchase Programme early, Austrian Governor Robert Holzmann said in remarks published on Friday. "My suggestion would be to reduce reinvestments step by step as of March," Holzmann told Austrian newspaper Die Presse. Those reinvestments are slated to run until the end of 2024 but some policymakers have made the case for starting to wind them down early. Reporting by Francois Murphy; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Austrian National Bank Robert Holzmann, Leonhard Foeger, Robert Holzmann, Holzmann, Francois Murphy, Christina Fincher Organizations: European Central Bank policymaker, Austrian National Bank, REUTERS, Rights, Central Bank, Austrian, Die Presse, Thomson Locations: Vienna, Austria, Austrian

☆ Top economists unanimous on 'higher for longer' rates as inflation threats linger
▼ + stars: | 2023-10-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Pedestrians walk past a billboard announcing the World Bank Group and International Monetary Fund annual meetings, on the side of the International Monetary Fund headquarters in Washington DC on October 5, 2023. Mandel Ngan | Afp | Getty ImagesTop economists and central bankers appear to be in agreement on one thing: interest rates will stay higher for longer, clouding the outlook for global markets. Despite the pause, Fed officials have signaled that rates may have to remain higher for longer than markets had initially expected if inflation is to sustainably return to the central bank's 2% target. The European Central Bank last month issued a 10th consecutive interest rate hike to take its main deposit facility to a record 4% despite signs of a weakening euro zone economy. "We may have more shocks that may drive inflation up, and that's why of course we have to remain very cautious about inflation developments."

Persons: Mandel Ngan, Ajay Banga, Greg Guyett, Guyett, Boris Vujčić, Vujčić, Mārtiņš Kazāks, CNBC's Joumanna Bercetche, Silvia Amaro, Austrian National Bank Governor Robert Holzmann Organizations: World Bank Group, International Monetary Fund, Washington DC, Afp, Getty, U.S . Federal Reserve, World Bank, IMF, Bank, Labor Department, U.S ., HSBC, CNBC, European Central Bank, Council, Croatian National Bank, U.S, Bank of Latvia, ECB, Governing Council, Austrian National Bank Governor Locations: Washington, Central, U.S, Marrakech, Morocco, ECB's, Europe, Marrakech ., Israel

☆ Austrian leader backs far-right idea of enshrining cash in constitution
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Austrian Chancellor Karl Nehammer delivers his speech during a session of the Parliament in Vienna, Austria, May 12, 2023. REUTERS/Leonhard Foeger/File PhotoVIENNA, Aug 4 (Reuters) - Austria's conservative Chancellor Karl Nehammer wants the right to use cash enshrined in the constitution, he told Austrian media in remarks published on Friday, an idea the far-right Freedom Party has been pushing for years. Most opinion polls show the anti-immigration Freedom Party (FPO) in first place with a clear lead over the opposition Social Democrats and Nehammer's conservatives, who are in a two-party coalition with the left-wing Greens. "The issue of cash is very important to people," Nehammer told Austrian media, including news agency APA. "It is important to me that cash be written into the constitution," APA quoted him as saying.

Persons: Karl Nehammer, Leonhard Foeger, Nehammer, Magnus Brunner, Herbert Kickl, Francois Murphy, Christina Fincher Organizations: REUTERS, Austrian, Party, Social Democrats, Greens, APA, Thomson Locations: Vienna, Austria

☆ Banking crisis forces ECB policymakers to rethink rate hikes, but focus still firmly on inflation
▼ + stars: | 2023-04-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

A sign for the European Central Bank (ECB) outside the bank's headquarters in Frankfurt, Germany, on Thursday, Feb. 2, 2023. Alex Kraus | Bloomberg | Getty ImagesEuropean Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month's banking turmoil, but remain committed to reining in core inflation. However core inflation — which excludes volatile energy, food, alcohol and tobacco prices — rose to an all-time high of 5.7%. But he said policymakers will be examining the data for signs that core inflation is coming down and the bank's medium-term inflation target of 2% is within sight. So yes we are worried about the core inflation not yet peaking," Scicluna said.

☆ ECB policymaker says a 50-basis-point rate hike 'could be in the ballpark' at its next meeting
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB policymaker says a 50-basis-point rate hike 'could be in the ballpark' at its next meetingRobert Holzmann, ECB policymaker and governor of the Austrian National Bank, told CNBC that if the economic outlook changes, the central bank will change its approach to interest rates.

☆ Morning Bid: Signs of confidence re-emerge after bank storm
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

While UBS shares were hammered in early trading on Monday after its shotgun marriage with troubled Credit Suisse following an intervention by Swiss authorities, the bank's shares pared most of the losses towards the close. European Central Bank President Christine Lagarde said the market turmoil might do some of the ECB's work for it in dampening demand and inflation. Markets have been on high alert for central banks to raise interest rates sharply to cope with high inflation. ECB policymaker Robert Holzmann watered down his recent call for three more rate increases of 50 basis points in quick succession. Policy decision is on WednesdayReporting by Anshuman Daga; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ ECB's Holzmann waters down call for three more rate hikes
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

VIENNA, March 20 (Reuters) - European Central Bank (ECB) policymaker Robert Holzmann on Monday watered down his recent call for three further interest-rate increases of 50 basis points in quick succession. Holzmann, who heads the Austrian National Bank, told German business daily Handelsblatt two weeks ago the ECB should raise rates by 50 basis points at each of its next four meetings because inflation was proving stubborn. That was a likely reference to how higher central bank rates and jitters in the banking sector tend to have the same effect by discouraging lending and cooling economic activity. Similarly, Holzmann said that since his Handelsblatt interview liquidity in the financial system had decreased, referring to banking stocks' recent fall on fears of a new banking crisis. Reporting by Francois Murphy and Alexandra Schwarz-Goerlich; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Austrian central bank defends compulsory mortgage-lending standards
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

VIENNA, Nov 22 (Reuters) - Austria should keep its recently introduced compulsory standards for mortgage lending, the Austrian National Bank (ONB) said on Tuesday, despite a recent call by the conservative finance minister for those standards to be reviewed. Faced with a sustained housing boom and banks' widespread flouting of recommendations on mortgage lending aimed at limiting risk, Austria introduced the compulsory standards in August, though banks are still allowed to deviate from them in up to 20% of cases. With interest rates now rising, however, Finance Minister Magnus Brunner has asked that the decision to introduce the compulsory standards be reviewed to make lending easier. "The newly adopted regulation contributes to safeguarding financial stability by curbing excessive developments in residential real estate lending," the ONB said in a statement on its semi-annual Financial Stability Report, referring to the binding standards. The regulation introducing those standards was issued by the Financial Market Authority (FMA), though the standards were developed by the Financial Market Stability Board, which brings together officials from the Finance Ministry, ONB and FMA.

☆ ECB's Holzmann says he doesn't know how he'll vote at December meeting
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

VIENNA, Nov 11 (Reuters) - European Central Bank policymaker Robert Holzmann said on Friday he does not yet know how he will vote at the ECB's rate-setting meeting in December and the exact decision would depend on data, especially the central bank's economic forecasts. "Everything is possible - that we keep going with (a) 0.75 (% increase) but equally that we perhaps will limit ourselves to 0.5. It is all open, everything is possible but it will depend on our forecasts," Holzmann, who is governor of the Austrian National Bank, told an economic reporters' club in Vienna. Reporting by Francois Murphy; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ ECB policymakers prepared to be 'more readable' to the market, Austrian central bank chief says
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB policymakers prepared to be 'more readable' to the market, Austrian central bank chief saysEuropean Central Bank policymaker and Austrian National Bank Governor Robert Holzmann discusses the outlook for monetary policy and says ECB policymakers are prepared to be "more readable” with their views on interest rates.

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