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post: ECB'S WUNSCH: I SEE A PATH FOR INITIATING RATE CUTS THIS YEAR || COSTS OF REMAINING TIGHT FOR TOO LONG SEEM TO OUTWEIGH THE COST OF PREMATURE EASING post: ECB'S WUNSCH: THERE IS ROOM TO CUT 50 BASIS POINTS BUT WHEN WILL DEPEND ON DATA || SEES NEED FOR CRITICAL REEVALUATION OF ECB'S MODELLING FRAMEWORK, ROLE OF MODELS IN POLICYMAKING post: ECB'S WUNSCH: THE COSTS OF REMAINING TIGHT FOR TOO LONG SEEM TO OUTWEIGH THE COST OF PREMATURE EASING.
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post: ECB'S HOLZMANN: I DON'T SEE A REASON TO LOWER RATES TOO MUCH TOO QUICKLY.Holzmann: “The Fed is the gorilla in the room” According to ECB Council member Robert Holzmann, at best an oil price shock can prevent the interest rate turnaround from starting in June. In an interview with the Handelsblatt, the head of the Austrian Central Bank speaks out against successive interest rate cuts by the European Central Bank (ECB). “If the time comes in June, further steps will certainly follow,” said Holzmann. “But I see no reason at all for us to cut key interest rates too much too quickly.” Holzmann's statements make it clear that the start of the interest rate turnaround in June is almost certain. In the spring he had put the brakes on speculation that the ECB would soon cut interest rates. At the same time, the Austrian, who is seen as an advocate of rather high interest rates, is countering calls from other euro central bankers to increase immediat
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