According to Odaily, Holzman, a committee member of the European Central Bank (ECB), has indicated that the bank is expected to cut interest rates twice, and possibly three times, in 2024. This move is anticipated to support the ECB's decision to reduce interest rates in the following week.
The ECB's decision to cut interest rates is a significant move that could have wide-ranging implications for the European economy. Interest rate cuts are typically used by central banks to stimulate economic growth by making borrowing cheaper, thus encouraging spending and investment. However, they can also lead to inflation if not carefully managed.
Holzman's announcement comes at a time when many central banks around the world are grappling with the challenge of managing economic recovery in the wake of the global pandemic. The ECB's decision to cut interest rates could set a precedent for other central banks to follow.
It is important to note that while the ECB's decision to cut interest rates is expected, it is not yet confirmed. The final decision will be made by the ECB's governing council, which is composed of representatives from each of the eurozone's national central banks. The council's decision will be based on a variety of factors, including the current state of the European economy and the outlook for inflation and economic growth.