4/24, 5:34 PM (Source: TeleTrader)
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ECB's Schnabel: 50 bp rate hike in May 'not off the table'

European Central Bank (ECB) Executive Board member Isabel Schnabel said in an interview with Politico, posted on the bank's website on Monday, that raising interest rates by half of a percentage point in May is "not off the table."

She reiterated that the ECB will continue to make its decisions based on data. "So far, core inflation has continued to move up. There is a lot of uncertainty, and this is why we really need to look at the incoming data," Schnabel explained, adding that it is too soon to "declare victory on inflation."

The ECB policymaker also reaffirmed that according to the central bank's latest projections, the euro area shouldn't be hit with a recession. "So far, there are no particular signs of a weakening in economic developments," she concluded.

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