ECB’s Schnabel Sees Worsened Growth Outlook But Prices Stubborn
- Impossible to predict where rates will peak, Schnabel says
- Comments come amid debate over September policy decision
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European Central Bank Executive Board member Isabel Schnabel said growth prospects for the euro area are more dire than officials predicted in June, while underlying inflation remains “stubbornly high.”
Highlighting the challenge that the current state of the economy poses to policymakers, the official in charge of markets avoided committing to specific action in September, saying that it’s impossible to know today whether borrowing costs still have to rise.