Remarks by ECB Executive Member Isabel Schnabel
- Predicts a gradual decline in inflation over the coming year
- There is no sign that inflation is getting out of hand
- Inflation will not continue at the same pace as in recent months
- Inflation will return to 2% next year
- It would be premature to tighten monetary policy now
A few bold remarks from Schnabel but which fit the message the ECB has been trying to send to the market lately. German annual inflation is estimated at 5% later today, but we’ll see if that will really be the peak, as Schnabel thinks.