Isabel Schnabel: Interview with Agence France-Presse (AFP)

INTERVIEWInterview with Agence France-Presse (AFP)Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Jean-Philippe LacourAnd at the last Governing Council meeting there was still an exceptionally high level of uncertainty.

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Thursday, September 17, 2020
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Macroeconomics, Economy, Articles, Inflation, Eurozone, Monetary inflation, Monetary policy, Core inflation, Euro
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INTERVIEW

Interview with Agence France-Presse (AFP)

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Jean-Philippe Lacour

      • And at the last Governing Council meeting there was still an exceptionally high level of uncertainty.
      • Eurozone unemployment is increasing rapidly, core inflation reached historic lows in August, the pandemic is gathering pace.
      • Yet the ECB is a little less gloomy about the economic outlook than three months ago.
      • We do not see a V-shaped economic development where we return to the pre-crisis path very quickly.
      • Instead, we see a protracted recovery that takes time, and the same is true for the inflation outlook.
      • Regarding inflation, we never base our decisions on just one month of data; we focus on how it evolves over the medium term.
      • We see that our measures provide tangible support to core inflation, which was, however, partly offset by other factors.
      • In our monetary policy strategy review, which has just been resumed, we will also listen carefully to the different stakeholders.
      • Regarding Brexit, how concerned are you about a no deal that is likely to weigh on economic activity?
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