ECB's Schnabel spoke on Monday, 50 basis points are not off the table. Full transcript.

Isabel Schnabel is a member of the European Central Bank Executive Board.

Comments overnight ICYMI:

• ECB's Schnabel: 50 basis points are not off the table

The European Central Bank have published the full transcript of her interview if you are interested:'

• core inflation continues to surprise on the upside. It shows a very strong momentum, and it stands at a historical high. Given the persistence of underlying inflation, plus the very strong momentum in food inflation, it's far too early to declare victory on inflation.