ECB’s Holzmann dissented on the rate cut

Greg had the scuttlebutt on this earlier:

• Holzmann is considered more of a hawk

A spokesman for Holzmann confirmed the dissent, due to recent economic data:

• “Data-driven decisions should be data-driven decisions”

On May 28 Holzmann indicated he was in favour of a cut: “as things stand now, I would support a cut next week, but I will also warn that there should be no automaticity about further moves.” Inflation data on May 31 seems to have changed his mind.

• Eurozone May CPI +2.6% vs +2.5% y/y expected

This article was written by Eamonn Sheridan at www.forexlive.com.