MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Holzmann Retains Position as Arch-Hawk at ECB

ECB
  • Comments from ECB's Nagel and ECB's Holzmann crossing ahead of the World Economic Forum in Davos:
  • ECB's Nagel states that it is too early to talk about rate cuts, and inflation is still too high. This leaves markets as over-optimistic, and "maybe we can wait for Summer break" before mulling rate cuts.
  • Holzmann of the Austria central bank, contrasts in saying that markets shouldn't count on ECB rate cuts at all in 2024, and there is no reason now to talk about a cut. He cites rate-cut expectations as optimistic, and doesn't see a "real" recession coming, barring a shock to the economy.
  • Holzmann well known as being one of the most hawkish members on the GC, and living up to that reputation in this Davos WEF speech. However, Holzmann's comment "Shouldn't count on rate cuts at all in 2024" is counter to Nagel's "Maybe we can wait for summer break" and Lane's preference for waiting until end-April, after the receipt of Eurostat national accounts data. This keeps Holzmann as one of the arch-hawks on the GC going forward.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.