ECB’s Schnabel: Recent energy-price developments have been quite concerning
European Central Bank (ECB) Executive Board member Isabel Schnabel said recent energy-price developments have been "quite concerning" as officials consider further interest-rate increases after last week’s move, Bloomberg reported.
Additional remarks
Macroeconomic, fiscal and financial stability in a shock-prone world.
It’s not just oil, but also diesel.
Refining capacities have reduced drastically and can’t be rebuilt quickly.
Market reaction
The Euro (EUR) didn't react to ECB Schnabel's remarks, and has remained under pressure against the US Dollar (USD). As of writing, EUR/USD is down 0.5% to near 1.1540.
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