Holzmann, president of OeNB, sees risks of rising inflation

“There are indications that there is a risk that inflation is higher, but this assessment will be able to be checked very quickly when we see how inflation will come next year. If there is not that sharp drop, the current assessment is dealt with and then everyone will definitely, including At that other colleagues, review and we will of course change the direction of our monetary policy.”

The head of the central bank said that there are different opinions in the board of directors about the current very high inflation, but these are not trenches, but nuances. If inflation expectations increase, the European Central Bank is ready to adjust monetary policy accordingly. Holzmann assumes that the new viral boom Omikron will dampen the recovery, but that the economic dynamism will remain high in 2022. He does not see a bankruptcy wave heading towards Austria.

In 2018, Holzmann was nominated as the new governor of the OeNB by the then ruling party, FPÖ. Holzmann did not want to comment on the FPÖ’s current critical vaccination course in the interview. He thinks vaccination is very important and has been vaccinated three times himself. Regarding vaccination requirements, he said, other countries have achieved higher rates of vaccination on a voluntary basis. In Holzmann’s view, this was also possible in Austria.