Schnabel spoke publicly at an event in northern Italy on Saturday. She really didn't provide much of a degree of certainy on the 'when' question

Its too early to do so, to be fair to her.

  • "We will hike interest rates some time after, as appropriate, in light of incoming data,"
  • "The speed of normalisation ... will depend on the economic fallout from the war, the severity of the inflation shock and its persistence,"
  • said inflation risk was skewed towards even higher readings given sharply rising producer prices, structural economic changes like de-globalisation and likely wage hikes

Info via a Reuters report over the weekend.