FRANKFURT, June 25 (Reuters) – The European Central Bank will need to keep raising interest rates as energy prices remain high and a ceasefire in the Middle East is no reason for policymakers to let their guard down, ECB board member Isabel Schnabel said.
“From today’s perspective, we will need to raise interest rates further in order to bring inflation back to our 2% target over the medium term,” Schnabel told German newspaper Die Zeit in an interview. “However, the extent and timing of further measures will depend on how the conflict, the economy and inflation evolve.”
(Reporting by Balazs Koranyi; Editing by Andrew Cawthorne)
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