Central Banks
ECB’s Schnabel Sees Inflation Pressure in ‘All Parts’ of Economy
- Schnabel reiterates ECB must continue raising interest rates
- Officials are weighing their next move as economy worsens
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Upward pressure on consumer pressures has spread from energy to engulf the whole euro-zone economy, according to European Central Bank Executive Board member Isabel Schnabel.
“What we are seeing is that the inflationary pressures have become much more broad-based,” Schnabel said Thursday evening in Luxembourg. “They have somehow crept into all parts of the economy.”