VIENNA. There will be a lot of noise this year if the European Central Bank cuts interest rates Robert Holzman not stay. If the time comes in June, further steps would follow, the governor of the Austrian National Bank told the Handelsblatt. “But I see no reason at all for us to cut key interest rates too much too quickly.”
Every step must be made dependent on currently available data. Risk factors are the oil price and an escalation in the Middle East, which could drive inflation. The next ECB interest rate meeting is on June 6th. Recently, many council members campaigned for a reduction. The ECB’s key interest rate is 4.5 percent. This is the interest that commercial banks have to pay when they borrow money from the ECB. The deposit interest rate is 4.0 percent.
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