ECB’s Holzmann says rate cuts in 2024 aren’t guaranteed – Bloomberg News

(Adds Holzmann’s ECB role in para 1)

(Reuters) – European Central Bank Governing Council member Robert Holzmann said it is too early to talk about lowering borrowing costs and such a move in 2024 is anything but certain, Bloomberg News reported on Thursday.

“Even if the ECB is past an unprecedented series of ten consecutive rate increases, there is also for the year 2024 no guarantee of rate reductions” Holzmann said.

“Monetary policy normalization is already showing its impact on slowing inflation, but it would still be premature to think about rate cuts,” he added.

(This story has been refiled to add Robert Holzmann’s designation in the ECB in paragraph 1)

(Reporting by Nilutpal Timsina in Bengaluru, Editing by William Maclean)