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ECB’s Schnabel sees risk of higher inflation: report -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Isabel Schnabel (member of the German advisory panel of economist experts) attends the Frankfurt European Banking Congress, 29th Frankfurt European Banking Congress, at the Old Opera house, Frankfurt, Germany, November 22, 2019. REUTERS/Ralph Orlowski/File Photograph

FRANKFURT, (Reuters) – The Euro zone’s inflation rate will rise next year more than expected and price growth may remain above the ECB target for the medium-term, Isabel Schnabel from the European Central Bank told Bloomberg.

She stated that inflation risks are tilted in the positive direction. “It is possible to expect that inflation will drop below our goal of 2% over the medium term.

Schnabel, head of market operations at the ECB, stated that “there could be structural changes pointing in the opposite direction.” “I do not believe that we can accurately predict, based upon today’s data what will actually happen.”

Schnabel said that plans for ending pandemic emergency bond buyings are valid despite the new COVID-19.

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