ECB's Schnabel speaks in Karlsruhe
ECB's Schnabel is a speaking in Karlsruhe:
- Call for higher interest rates should instead be directed at governments and legislators
- ECB's current monetary policy stance is necessary in order to achieve sustained price stability in the euro area
- Developments in real estate prices are rightly coming under particular scrutiny
- Despite the latest surge, CPI-adjusted real estate prices in Germany are still at comparatively low levels by international standards
- Highly indebted member states do not make enough use of the. Of low interest rates to consolidate their governments budgets
- In the current situation of fundamental departure from ECB's currency policy does not seem appropriate
- It is primarily up to other policymakers to counter side effects of monetary policy
