Trump’s policies will put upward pressure on inflation, ECB’s Holzmann says

2024.11.12 04:45

VIENNA (Reuters) – The policies that U.S. President-elect Donald Trump will implement once in office will likely put upward pressure on inflation on both sides of the Atlantic, European Central Bank policymaker Robert Holzmann said on Tuesday.

“He means what he has said and he will probably implement it faster than we expect. If so, what do markets expect? … That interest rates will stay higher and that inflation will also be higher,” Holzmann said, adding that that would put upward pressure on the dollar and euro zone inflation.

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