ECB Official Rejects Rate Cut Amid Trade Concerns

Robert Holzmann, member of the European Central Bank’s Governing Council, has refuted calls for interest rate cuts. According to Odaily, Mr. Holzmann maintains that trade-related difficulties are the primary obstacle hindering investment, not current interest rates. Despite acknowledging potential slowing down in growth, he expressed confidence that the eurozone will avoid a recession. He also deemed proposals for drastic rate cuts of 50 basis points as unrealistic and inappropriate.