ICYMI – ECB’s Schnabel spoke on Wednesday: “last mile” of disinflation is proving bumpy

European Central Bank (ECB) Executive Board member Isabel Schnabel spoke at the Finance Committee of the German Bundestag in Berlin on Wednesday:

• said the “last mile” of the euro area’s disinflation process is likely to be more difficult than previous stages
• goods inflation is “dropping quickly,” the service sector inflation is proving tricky though

She didn’t give guidance on the rate path ahead for the ECB.

The European Central Bank have published her speech in the form of slides, which is a great summary tool. The deck is here:

• The ECB’s monetary
  policy: towards price
  stability

This article was written by Eamonn Sheridan at www.forexlive.com.