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ECB Member Urges Rate Hike to Fight Inflation
Isabel Schnabel, a member of the Executive Board of the European Central Bank, confirmed that interest rates need to be increased further to combat inflation, especially with ongoing geopolitical tensions and the impact of the Middle East war on energy markets. She explained that the current policy rates will not bring inflation back to the target in the medium term, which necessitates additional monetary tightening to ensure price stability, amid expectations of interest rate hikes at the upcoming September meeting.
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