Robert Holzmann is the Governor of Austria's central bank (Oesterreichische Nationalbank (OeNB)) and therefore also a member of the Governing Council of the European Central Bank (ECB).
His remarks are crossing news wires. He is talking tough.
- ECB rates will be higher in a year
- rate moves are data dependent
- the European Central Bank underestimated the pace of inflation gains
- the Bank could have begun hiking sooner but existing forward guidance limited the Bank's action
- the Bank has shown its prepared to go beyond expectations
- there is a possibility of stagflation in the eurozone
