When might European interest rates start to fall? CGTN’s The Agenda asks Robert Holzmann, Governor of Austria’s Central Bank.
“I don't say we that don't increase interest rates to keep them up there,” he says. “We want to raise them to a level in which we think we return to our interest rate target. And once this is in sight, then of course we can decrease the interest rates.
“Some hope that it may happen over the next year – may be a bit optimistic or in the U.S. perhaps, or bite there. They also pushed it back now. But to say, I do hope that at the latest in 2025, we will have interest rate cuts there. And if we are back to the inflation level, which is our target, 2% in this case, I would say we can go back to interest rate at around 2% and not keep it at 4%.
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