ECB’s Schnabel says no need to rush policy response to Iran war
The European Central Bank's Executive Board member Isabel Schnabel says there's no need to rush policy response to the Iran war, emphasizing careful consideration of data and developments. The ECB aims to stabilize inflation at 2% amidst the energy price shock triggered by the conflict.
The European Central Bank should avoid hasty reactions to the Iran war. Executive Board member Isabel Schnabel says the ECB must carefully weigh its decisions. Europe faces a massive energy price shock, triggering a sharp increase in investors' inflation expectations. The ECB has time to examine data and analyze developments. The central bank aims to stabilize inflation at 2%. The energy cost surge from the war echoes the 2022 inflation shock following Russia's invasion of Ukraine.
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