The European Central Bank (ECB) is facing a period of uncertainty regarding its future interest rate decisions. ECB's Robert Holzmann, a prominent hawkish member of the ECB's Governing Council, has stated that it is too early to consider rate cuts, and that there is no guarantee for such cuts in 2024, according to Bloomberg News. This position comes at a time when the Belgian National Bank is at risk of starting the next year without a chief, as the current head's term has yet to be renewed. In related financial news, Botswana plans to allow its currency to depreciate by 1.51% against a basket of currencies in 2024. Additionally, Caroline Abel, the first woman to serve as the central bank governor of Seychelles, has announced her intention to resign in March, opening the possibility for a deputy or an external candidate to take her place. Meanwhile, the South African rand has shown weakness in light of thin trade and ahead of upcoming local economic data releases.
Botswana will allow its currency to weaken by 1.51% against a basket of other units in 2024 https://t.co/CCaFqvsGk9
South African rand weakens in thin trade ahead of local economic releases https://t.co/f7VyRXIoY7 https://t.co/ni2JbQDO2m
Seychelles’ first woman central bank governor, Caroline Abel, says she will step down from her post in March, leaving room for one of her deputies or an outsider to succeed her https://t.co/86tdj5d7DD
ECB's Holzmann says rate cuts in 2024 aren't guaranteed - Bloomberg News https://t.co/uxbSKRtKcS https://t.co/Zs8nJ3BzZ8
⚠️ ECB’S HOLZMANN SAYS RATE CUTS IN 2024 AREN’T GUARANTEED - BLOOMBERG NEWS https://t.co/9SNixTVyIo
ECB’s Holzmann says rate cuts in 2024 aren’t guaranteed https://t.co/JBsAdyX6u5 via @martoneder https://t.co/rd2TCgUOYL
Robert Holzmann, one of the ECB’s most hawkish Governing Council members, says it’s too early to talk about lowering borrowing costs, and such a move in 2024 is anything but certain https://t.co/zg5hMkrBNS
🔴 ECB'S HOLZMANN: THERE IS NO GUARANTEE FOR RATE CUTS IN 2024.
🔴 ECB'S HOLZMANN: IT'S TOO EARLY TO THINK ABOUT RATE CUTS NOW.
The Belgian National Bank chief’s term has yet to be renewed, potentially leaving the central bank without a leader early next year https://t.co/BoDARrwDJz