© Reuters. FILE PHOTO: A huge euro logo is pictured next to the headquarters of the European Central Bank (ECB) before the bank’s monthly news conference in Frankfurt August 7, 2014. REUTERS/Ralph Orlowski
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.”
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
