Central Banks
ECB Member Schnabel Says Rates Must Rise Significantly and Steadily
- ‘Inflation won’t subside by itself,’ Schnabel tells conference
- Higher rates no excuse for slowing green transition, she says
Isabel Schnabel, right, on the panel at a Riksbank conference in Stockholm, on Jan. 10.
Photographer: Eric Flyg/Bloomberg
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European Central Bank Executive Board member Isabel Schnabel said borrowing costs must be lifted much further, with inflation only just having dipped back into single digits.
“Interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to our 2% medium-term target,” she said Tuesday.