ECB Governing Council member Robert Holzmann, Bank of Austria head, said in an Eurofi Magazine article, “there is the possibility that we may be able to normalize monetary policy sooner than most financial market experts expect.” He pointed to upward price pressures which could turn into inflation expectations.
Holzmann added, “this does not mean that we will withdraw accommodation prematurely, but rather that accommodation will be needed for a shorter period than what markets expect.”
