Shanabel urges ECB to hike rates in June
European Central Bank Executive Board member Isabel Schnabel has stated that the bank may be compelled to raise interest rates in June despite ongoing conflicts in the Middle East, due to the magnitude and persistence of the current shock. She pointed out that rising energy prices and their impact on inflation are pushing towards a quarter-point increase in borrowing costs at the upcoming meeting, with the bank making decisions based on forecasts of various scenarios, focusing on core inflation and the shock's effects on the economy.
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