ECB's Isabel SchnabelECB's Isabel Schnabel

Frankfurt, Germany — The European Central Bank (ECB) Friday shared a speech text by Isabel Schnabel, its German member of the rate-setting Executive Board of the ECB, titled “From laggard to leader? Closing the euro area’s technology gap.”

 

Schnable is quoted in the text as follows:

In this environment, monetary policy needs to remain restrictive until we can be confident that inflation will sustainably return to our medium-term target. The recent long period of high inflation suggests that, to avoid being forced into adopting a stop-and-go policy akin to that of the 1970s, we must be cautious not to adjust our policy stance prematurely.

By Silvia Orfeo

Silvia Orfeo is a Sr. Politics and Economics Reporter at Nobot.News

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