PoliticsIMPORTANT
ECB's Schnabel says rates must increase further on inflation risks and ECB must prevent second round effects early on
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ECB's Schnabel urged rate hikes to prevent second-round inflation, while sources report ECB officials prepare a 25-basis-point September hike with limited appetite for signaling further tightening.
News detail
Says: Market seems to understand ECB reaction function well, and the extent of tightening is to depend on incoming data. Natural gas situation particularly concerning. Economy looks to be gaining further momentum. Inflation likely to top 2% for extended period.
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