00:00It's Benzinga bringing Wall Street to Main Street.
00:02European Central Bank Executive Board Member Isabel Schnabel called for an interest rate hike
00:07in June, saying the persistence of the energy shock left policymakers no choice but to act,
00:13according to Bloomberg. In an interview published May 21st, Schnabel said that even if the Middle
00:18East conflict ended immediately, damage to energy infrastructure and global supply chains would
00:23still require a monetary policy response. She noted that energy price persistence had already
00:30pushed conditions beyond the ECB's adverse scenario. Schnabel warned that waiting for second
00:35round effects to show up in wage data would be too late. She also flagged rising risks to underlying
00:41inflation and said the economic growth outlook faces mounting downside risks. She added the ECB
00:47should not commit to any action beyond June. For all things money, visit Benzinga.com.
Comments