Central Banks
ECB’s Schnabel Says July Cut Doesn’t Look Warranted
- Executive Board member tells Nikkei ‘cautious approach’ needed
- Investors are awaiting a first reduction in rates next month
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European Central Bank Executive Board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.
“Based on current data, a rate cut in July does not seem warranted,” she told Nikkei newspaper in comments published Friday. “We should look very carefully at the data because there is a risk of easing prematurely.”