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ECB tightening wouldn't push down energy prices - Schnabel

01/14/2022 | 01:35pm EST
A huge euro logo is pictured past next to headquarters of ECB in Frankfurt

BERLIN (Reuters) - 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)

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.14% 0.6371 Delayed Quote.-0.67%
BRITISH POUND / EURO (GBP/EUR) 0.10% 1.20087 Delayed Quote.0.90%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.05% 0.705035 Delayed Quote.1.44%
INDIAN RUPEE / EURO (INR/EUR) -0.03% 0.011837 Delayed Quote.0.38%
LONDON BRENT OIL -0.15% 87.56 Delayed Quote.11.05%
ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
US DOLLAR / EURO (USD/EUR) -0.09% 0.880855 Delayed Quote.0.36%
WTI 0.18% 85.15 Delayed Quote.15.15%
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