Holzmann to Finish Austria Governor Term, No Decision Beyond

(Bloomberg) -- European Central Bank Governing Council member Robert Holzmann plans to complete his current term as head of the Austrian National Bank — even as the government starts to seek candidates to fill the institution’s key positions, according to a person familiar with the matter.

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That would mean Holzmann, 75, will be at the helm at least through August 2025, beyond which he’s made no decisions as yet, the person said, asking not to be named discussing private matters.

Widely regarded as the most hawkish member of the ECB’s interest-rate-setting panel, which he joined in 2019, the former economics professor has contributed to the most aggressive ramp-up in borrowing costs in ECB history as an unprecedented spike in inflation engulfed the euro zone.

Austria’s Die Presse newspaper reported Thursday that the government will advertise all four board positions at the central bank in postings this weekend to complete the hiring process before parliamentary elections in the fall.

A spokesperson for the Austrian National Bank declined to comment. A spokesman for Finance Minister Magnus Brunner declined to immediately comment by phone.

Holzmann was nominated for his current term by the far-right Freedom Party as part of a coalition agreement with the People’s Party. The People’s Party now governs with the Greens, while the Freedom Party leads polls ahead of national elections scheduled for September or October.

(Updates with no comment in fifth paragraph.)

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