ECB tightening wouldn't push down energy prices - Schnabel


Bywire - Claim your free account nowBywire - love news, hate ads?

BERLIN - Raising interest rates in the euro zone would not push down soaring energy prices, European Central Bank board member Isabel Schnabel said in remarks published on Friday, adding that any tightening of monetary policy would have an impact much later.

"We must not raise interest rates too early," Sueddeutsche Zeitung quoted Schnabel as saying in an interview. "This could result in stalling the economic recovery."

"If we take action today, it will only have an impact with a lag," she added. "Monetary policy cannot push down oil and gas prices."

(Reporting by Joseph Nasr; Editing by Christoph Steitz)

Bywire will email you from time to time with news digests, stories & opportunities to get involved. Privacy

Bywire - Claim your free account nowBywire - love news, hate ads?