ECB’s Schnabel: Interest rates need to raise further to bring inflation down to 2% target
European Central Bank (ECB) policymaker Isabel Schnabel reiterates that the central bank is not done with monetary tightening yet, according to her remarks released by Econostream released during the European trading session on Thursday.
Comments
The short-term situation now looks better than we had expected, the ceasefire is no reason for monetary policymakers to let their guard down.
From today’s perspective, we will need to raise interest rates further in order to bring inflation back to our two percent target over the medium term.
Market reaction
There seems to be no immediate impact of the ECB Schnabel's comments on the Euro (EUR). At press time, EUR/USD trades slightly lower at around 1.1353 as the US Dollar (USD) edges higher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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