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ECB's Schnabel Lobbies Against Back-to-back Rate Cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.
ECB Executive Director Schnabel: There is no need to cut interest rates continuously in June and July and be wary of the risk of premature relaxation
ECB Executive Board member Isabel Schnabel warned against successive interest rate cuts in June and July.
The ECB Executive Committee said it was appropriate to cut interest rates in June, but there is no need to cut interest rates in July!
ECB Executive Director Schnabel said that cutting interest rates in June is appropriate, but according to current data, there seems to be no need to cut interest rates in July; a cautious attitude should be taken. Inflation risks are still biased upward. If the easing process is put ahead, there is a risk of premature easing.
French Unemployment Rate Remains at 7.5% in Q1
France's unemployment rate stood at 7.5% in the first quarter, unchanged from the prior three-month period, the statistics agency Insee said Friday. Analysts expected a 7.4% rate for the quarter.
ECB's Schnabel Says July Cut Doesn't Look Warranted
European Central Bank Executive Board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.
ECB's Villeroy Says Probability of June Rate Cut 'Significant'
Bank of France Governor Francois Villeroy de Galhau said it’s very probable that the European Central Bank will start cutting interest rates at its June 6 meeting.