Ukraine war clouding otherwise strong euro zone outlook: ECB

FRANKFURT (Reuters) – The “shock of war” has clouded the outlook for the economy just as inflation was taking hold in the euro zone and allowing the European Central Bank to withdraw its stimulus measures, ECB board member Isabel Schnabel said on Thursday.

“The shock of war hanging over Europe has clouded the global outlook,” Schnabel said in a speech that she said reflected the state of the economy before Russia’s invasion of Ukraine earlier on Thursday.

She added: “The economy is evolving in ways that suggest that, after a long period of very subdued price pressures, inflation is increasingly likely to stabilise in close proximity to our 2% target over the medium term.

“The current inflation outlook therefore calls for a gradual normalisation of our policy stance, reflecting the significant progress made towards meeting our inflation target in the future.”

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.