- ECB's Executive Board member Schnabel: Current inflation driven by pandemic-related factors that can be expected to phase out in next year
Market news
7 October 2021
ECB's Executive Board member Schnabel: Current inflation driven by pandemic-related factors that can be expected to phase out in next year
- Current rise can largely be attributed to temporary factors
- Overreacting to such factors could be harmful
- There's some uncertainty as to how persistent some of the factors could be
- It's premature to assume prices will entirely subside next year
- Chances are high that above-target inflation will fall back
- Reopening has pushed up services inflation
- Supply chain disruptions could be a more durable effect on prices
- Pandemic may have altered behaviour
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