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wemixnewgame| European Central Bank Governing Council Holzmann: The Federal Reserve cannot be completely ignored when formulating policies
editor 2024-05-08 23:49:43
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Robert Holzmann, a member of the ECB's governing council, saidWemixnewgameThe Fed's influence on the dollar gives it huge influence, which policy makers will consider.

wemixnewgame| European Central Bank Governing Council Holzmann: The Federal Reserve cannot be completely ignored when formulating policies

"to some extent, our data and decisions are naturally influenced by the Fed," he told the German business newspaper in an interview published on Wednesday. "We are not operating in a vacuum. The Fed, which can influence the dollar, can be said to be an obvious problem that no one wants to talk about. "

The ECB is expected to cut interest rates by 25 basis points on June 6, a move that deviates from the Fed's policy path of keeping interest rates high for longer.

But as one of the most hawkish members of the management committee, Holzmann warned against hasty action.

"the basic prerequisite for the first rate cut must first be met, that is, the inflation target is likely to be achieved by mid-2025," he said. "if that day comes in June, further measures will certainly be taken. But I see no reason to cut key interest rates too quickly and sharply. Every step we take depends on the data available at the time. We will have a lot of new data and forecasts in September and December. But that was not the case in July. "

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