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Robert Holzmann, a member of the European Central Bank’s Governing Council, has stated that there may not be any interest rate cuts in the eurozone for the whole of 2024, going against market expectations. He believes that recent data does not support the need for rate cuts, and unless inflation declines to the target of 2%, no announcement for cuts will be made. Holzmann also highlighted the geopolitical risks in the Middle East, which could further impact prices and the outlook for the economy.

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