8/27/2022, 9:34 PM (Source: TeleTrader)
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Recession shouldn't stop banks from hiking rates - ECB's Schnabel

Member of the European Central Bank (ECB) Executive Board Isabel Schnabel said the danger of sparking a recession should not stop central banks from taking measures to combat rising inflation rates.

Speaking at the Jackson Hole Economic Symposium, Schnabel said it is important to proceed with policy tightening in order to stabilize the economy, adding that central banks should refrain from lowering their interest rates as soon as some progress is seen.

"Even if we enter a recession, we have little choice but to continue the normalization path," said Schnabel.

Baha Breaking News (BBN) / NL