Austria in opposition to ECB charge minimize | EUROtoday

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«With my vote in opposition to» the ECB charge minimize «I needed to ship a sign»: with these phrases the governor of the Austrian Central Bank, Robert Holzmann, defined his opposition to the choice taken yesterday by the Frankfurt board. “The ECB has not yet conquered inflation,” Holzmann stated, including that “data-driven decisions should be data-driven.”

The macro knowledge

Meanwhile, the Austrian National Bank itself cuts its financial progress and inflation forecasts for the present 12 months in Austria.

In its six-month financial forecast launched at this time, the central financial institution stated it expects gross home product progress of 0.3% in 2024, barely decrease than the 0.5% estimated in its March interim forecast.

“Private consumption is recovering thanks to a significant increase in real wages and exports are also making a positive contribution to economic growth,” the central financial institution stated.

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Investments slowing down

This 12 months, nonetheless, a discount in investments is anticipated: “High financing costs and low profit expectations weigh on investments in residential construction and equipment, which are very sensitive to economic cycles.”