Robert Holzmann News

European Central Bank could be longer in coming after a recent uptick in inflation, ECB Governing Council member Robert Holzmann was quoted as saying on Saturday.

Bank that a June rate cut is really coming, though oil is on the rise again, clouding the inflation picture — and giving policy makers in Canada, New Zealand and Korea food for thought. China gears up to release a deluge of key data and U.S. banks kick off the earnings season.

Investing.com — European stock markets fell Tuesday on concerns that interest rates will remain high for longer than expected, while the annual World Economic Forum in Davos continued. 

By Tom Westbrook

Investing.com — The U.S. dollar rose in early European trade Tuesday, rebounding from recent lows, while the Australian dollar slumped after the RBA hinted at the end of its cycle of rate hikes.. 

Germany and quickened in Spain, offering European Central Bank officials a partial picture of the region's price pressures as they judge whether to raise interest rates again. The numbers published Wednesday point to the possibility of a robust outcome when the eurozone report is released the following day data policymakers have highlighted as crucial to their September 14 decision. Consumer prices in Germany, the region's biggest economy, rose 6.4% in August from a year earlier, exceeding the median estimate of 6.3% in a Bloomberg survey of economists. While inflation in Spain was far lower, at 2.4%, that result marked a second month of acceleration, and an underlying measure stayed far higher. Any evidence of stubbornly strong consumer-price growth may yet convince the ECB to raise borrowing costs. Officials are weighing if underlying pressures are too strong to risk a pause, or whether a weakening economy can brake inflation without further tightening. That appraisal augurs what appears for now to be a cliffhanger decision in two weeks' time. Hawks such as Austria's Robert Holzmann have already signaled they may push for a hike, while his Finnish colleague Tuomas Valimaki insisted on Tuesday that the outcome is “totally open.”

Gold prices gained on Tuesday as the dollar and Treasury yields retreated from recent highs ahead of crucial U.S. inflation and jobs data this week that could define the outlook for interest rates. FUNDAMENTALS * Spot gold was up 0.1% at $1,921.69 per ounce by 0113 GMT, having hit its highest since Aug.

European Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month's banking turmoil, but remain committed to reining in core inflation.