Remarks by ECB executive member, Isabel Schnabel
- Expects inflation to decline gradually in the coming year
- There are no signs that inflation is getting out of control
- Inflation won't continue at the same pace as in the past few months
- Inflation will trend back towards 2% next year
- It would be premature to tighten monetary policy now
Some bold remarks by Schnabel but fitting with the message that the ECB has been trying to send to the market in recent times. German annual inflation is estimated to hit 5% later today but we'll see if that will truly be the peak, as Schnabel thinks it should be.
Otherwise, you know the drill..
