Prices in euro area to decelerate in 2022 – ECB’s Schnabel
The rise in the euro area inflation is only temporary, Member of the European Central Bank (ECB) Executive Board Isabel Schnabel (pictured) reiterated on Thursday, adding that it can be expected for the prices to decelerate as soon as next year.
In an interview with the German broadcaster ARD, Schnabel stated that the ECB intends to “keep the financing conditions favorable” for the time being in order to support the economic recovery.
“There is no reason for an interest rate hike at the moment,” Schnabel concluded, echoing the stance expressed earlier this week by both ECB President Christine Lagarde, and the central bank’s Governing Council member Francois Villeroy de Galhau.
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