24 Hrs
Source:
المشهد العربي
Shanabel urges ECB to hike rates
Isabel Schnabel, a member of the Executive Board of the European Central Bank, called for the need to raise interest rates due to ongoing conflicts in the Middle East and their risks to inflation in the Eurozone. Expectations indicate that inflation rates will remain above 2% indefinitely as a result of rising energy expenses and persistent price pressures. She emphasized that economic performance is surpassing expectations, driven by fiscal policies, military spending, and a boom in artificial intelligence, while inflation continues to rise, reaching 2.9% in July. Warnings were issued about increasing pressures due to ongoing energy prices and conflicts.
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