Data ‘does not warrant’ July cut by ECB, Schnabel says

Eurozone inflation risks remain tilted to the upside, ECB board member warns

Isabel Schnabel
Isabel Schnabel
Bernd Hartung/European Central Bank

A European Central Bank (ECB) rate cut may be “appropriate” in June but current data “does not warrant” a following cut in July, Isabel Schnabel has said.

This year, market expectations of central bank rate adjustments have fallen in broadly similar fashion for Europe and the US, Schnabel, a member of the ECB board, told Japanese news outlet Nikkei on May 17. This is reflected in “rather contained” exchange rate movements and “broadly stable” financial conditions.

“I wouldn’t overstate the

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