ECB’s Schnabel: Intends to raise rates by 50bps in March
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Isabel Schnabel, a Member of the ECB’s Executive Board, wrote in press release entitled, ‘Monetary policy in times of pandemic and war’ that inflation momentum remains ‘quite elevated,‘ but cannot give all clear on inflation yet and that the ECB Intends to raise rates by 50bps in March.
The price of EUR/USD is under pressure and volatile ahead of Federal Reserve Chairman Jerome Powell speaking. However, a bullish outcome could come from dovish rhetoric.
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