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ECB aware of inflation fears but unlikely to raise rates next year: Schnabel -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Isabel Schnabel is a member of Germany’s advisory board for economic experts. She attends the Frankfurt European Banking Congress (EBC), at Frankfurt Old Opera House, Germany. November 22, 2019. REUTERS/Ralph Orlowski

FRANKFURT, (Reuters) – The European Central Bank is acutely aware that citizens are concerned about high inflation. However, it is unlikely to increase interest rates next year because price pressure is likely to decrease. This was stated by Isabel Schnabel on Thursday.

Schnabel stated that high inflation was causing people to be more concerned and that he is taking this concern very seriously at a conference on finance.

“Despite uncertainty, there are still good reasons for believing that inflation will decline in the euro zone over the next year, and then gradually fall back below our target at 2% indefinitely. This means that conditions…for raising rates next year are unlikely to be met,” she said.

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