ECB’s Schnabel says the Bank may need to act on policy due to rising energy prices

European Central Bank board member Isabel Schnabel spoke on Saturday, warning the Bank may have to act:

“Rising energy prices may require a departure from a ‘looking through’ policy.”

Scnhabel elaborated it saying:

“So far, however, there are no signs of broader second-round effects,”

“Wage growth and demands by unions remain comparatively moderate.”

And added that if the green transition threatened higher inflation the Bank would nne to act.

Info via Reuters

European Central Bank Schnabel

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