ECB board member Isabel Schnabel acknowledges a challenging "last mile" in tackling high inflation due to persistent services inflation.
ECB board member Isabel Schnabel said that the European Central Bank faces a tough "last mile" in its fight against high inflation due to persistent services inflation. She expects inflation to gradually converge to the 2% target next year, but acknowledges the challenge in this final stage of the fight. The pace and extent of ECB rate cuts will depend on data, and they are closely watching sticky services prices.
July 26, 2024
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