Pause in ECB rate cuts could last a while, policymaker Holzmann tells Austrian TV
"It could be that the pause lasts a while," he said when asked if there would be further rate cuts this year, adding each rate decision was based on the data available at that time. "If economic developments worsen, there could be further interest-rate cuts."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
40 minutes ago
- Reuters
Austria's RBI 'derecognizes' $1.41 billion legal claim from Rasperia for Q2
July 24 (Reuters) - Austria's Raiffeisen Bank International (RBI) ( opens new tab on Thursday said it "derecognizes" 1.2 billion euros ($1.41 billion) in expected proceeds from enforcing claims against Rasperia Trading Limited's Austrian assets for the second quarter of 2025. In June, a Russian court had rejected RBI's bid to lift an injunction banning the sale of its local subsidiary. The ban is tied to a lawsuit brought by Russian investment firm Rasperia after a collapsed deal in which RBI was ordered last year to pay 2 billion euros in damages. RBI's board "concluded that the strict criteria under International Financial Reporting Standards for recognition of the expected proceeds from enforcement of legal recourse against Rasperia are no longer met," the Vienna-based bank said. Raiffeisen plans to recoup much of the damages imposed in Russia through legal action in Austria aimed at recovering Rasperia assets there. The bank told Reuters that writing off 1.2 billion euros will impact the group's first-half 2025 results, including its Russian operations. However, excluding Russia, the bank said it expects no impact. RBI is set to release its semi-annual results by the end of July. The bank's dispute with Rasperia followed the failure of a deal that RBI hoped would have allowed it to unlock some of its frozen assets in Russia. RBI had sought to buy a stake in Vienna-based construction company Strabag ( opens new tab, but pulled out under pressure from Washington. "Despite the changed accounting treatment, the legal assessment remains unchanged, and RBI's Management Board maintains a high degree of confidence in its legal claim against Rasperia and the enforceability thereof against Rasperia's assets in Austria," RBI said. ($1 = 0.8494 euros)
Reuters
an hour ago
- Reuters
Austria's RBI 'derecognizes' $1.41 billion claim from Rasperia for Q2
July 24 (Reuters) - Austria's Raiffeisen Bank International (RBI) ( opens new tab on Thursday said it "derecognizes" 1.2 billion euros ($1.41 billion) in expected proceeds from enforcing claims against Rasperia Trading Limited's Austrian assets for the second quarter of 2025. In June, a Russian court had rejected RBI's bid to lift an injunction banning the sale of its local subsidiary. The ban is tied to a lawsuit brought by Russian investment firm Rasperia after a collapsed deal in which RBI was ordered last year to pay 2 billion euros in damages. RBI's board "concluded that the strict criteria under International Financial Reporting Standards for recognition of the expected proceeds from enforcement of legal recourse against Rasperia are no longer met," the Vienna-based bank said. Raiffeisen plans to recoup much of the damages imposed in Russia through legal action in Austria aimed at recovering Rasperia assets there. The bank said that derecognizing from legal claims will not affect its half-year results for 2025. RBI is due to publish its semi-annual results towards the end of July. The bank's dispute with Rasperia followed the failure of a deal that RBI hoped would have allowed it to unlock some of its frozen assets in Russia. RBI had sought to buy a stake in Vienna-based construction company Strabag ( opens new tab, but pulled out under pressure from Washington. "Despite the changed accounting treatment, the legal assessment remains unchanged, and RBI's Management Board maintains a high degree of confidence in its legal claim against Rasperia and the enforceability thereof against Rasperia's assets in Austria," RBI said. ($1 = 0.8494 euros)
The Independent
2 hours ago
- The Independent
FA issue England manager warning ahead of Euros final
The Football Association (FA) is determined to retain Sarina Wiegman as England manager, with chief executive Mark Bullingham stating she is "not for sale" at any price. Wiegman has reached five consecutive major tournament finals, including the last three with the Lionesses, and will lead them in the Euro 2025 final against world champions Spain. Her current contract with the FA extends until the end of the 2027 Women's World Cup, and Bullingham expressed confidence in keeping her in charge. Bullingham praised Wiegman as a "special coach" for her exceptional tournament record, work with players, and ability to maintain a cool head in critical moments. He dismissed suggestions that Wiegman should be considered for the England men's job, asserting it is disrespectful to view the men's role as more senior.
