No rate cut this year: European Central Bank member

Austrian Central Bank Governor Robert Holzmann speaks during an event Tuesday, Sept. 26, 2023, in Vienna, Austria.

Bloomberg | Bloomberg | Good pictures

The European Central Bank may exceed market expectations and hold off on starting interest rate cuts for the rest of 2024, Robert Holzmann, a member of the institution's governing board, said on Monday.

Asked about those calling for the first rate cut as early as April, Austria's central bank governor told CNBC, “If we leave Davos, those people will be deeply disappointed.”

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