ECB's Schnabel: We cannot predict where the peak rate is going to be

Market news

31 August 2023

ECB's Schnabel: We cannot predict where the peak rate is going to be

European Central Bank (ECB) executive board member, Isabel Schnabel, is making some comments on the central bank’s interest rate outlook on Thursday.

Key quotes

“We cannot predict where the peak rate is going to be.”

“Also cannot predict for how long rates will have to stay at restrictive levels.”

Market reaction

EUR/USD came under renewed selling pressure on her indecisive comments, currently trading at 1.0883, down 0.36% on the day.

European Monetary Union Unemployment Rate meets forecasts (6.4%) in July

Portugal Consumer Price Index (MoM): 0.3% (August) vs -0.4%

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