Frankfurt (dpa)
European Central Bank Executive Council member Isabel Schnabel said interest rates should be moved to bring inflation to the target, according to Bloomberg News. Schnabel said in an interview published yesterday that the risk of exaggerating policies on the part of the European Central Bank “is still limited, as real interest rates are still very low.” The interview took place a day after the central bank’s most recent policy meeting.
Speaking about the series of four rate hikes by the ECB, Schnabel said the central bank is doing “whatever is necessary” to bring inflation back to 2%. And she echoed the position of European Central Bank President Christine Lagarde, who said that interest rate hikes will continue “for a while.”