European call to move the interest rate

Frankfurt (dpa)

Isabel Schnabel, a member of the European Central Bank’s Executive Council, said interest rates should be shifted to bring inflation to target, according to Bloomberg News. Schnabel said in an interview published yesterday that the risk of exaggerated policies by the European Central Bank “is still limited, as real interest rates are still very low”. The interview took place one day after the central bank’s latest policy meeting.
Speaking about the ECB’s four rounds of rate hikes, Schnabel said the central bank was doing “whatever it takes” to bring inflation back to 2%. And she echoed the position of European Central Bank President Christine Lagarde, who said interest rate hikes would continue for “a while”.