ECB's Schnabel: We must be patient, cautious as inflation can flare up again
European Central Bank (ECB) executive board member Isabel Schnabel said on Wednesday, “we must be patient and cautious as inflation can flare up again.”
Additional quotes
The last mile in bringing inflation down may be the most difficult one.
We see sticky services inflation, resilient labour market.
There is a loosening of financial conditions as markets aggressively priced in rate cuts.
Recent events in the Red Sea also spark fears of renewed supply chain disruptions.
Taken together, this cautions against adjusting policy stance too soon.
We have made substantial progress on inflation, but we are not there yet
We must be patient, cautious as inflation can flare up again.
Market reaction
At the time of writing, EUR/USD is trading 0.08% higher on the day at around 1.0760, little moved by the above comments.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.04% | 0.02% | -0.02% | 0.03% | 0.10% | -0.06% | 0.01% | |
| EUR | 0.03% | 0.07% | 0.02% | 0.08% | 0.14% | -0.02% | 0.04% | |
| GBP | -0.02% | -0.07% | -0.05% | 0.02% | 0.08% | -0.08% | 0.00% | |
| CAD | 0.02% | -0.02% | 0.04% | 0.05% | 0.11% | -0.04% | 0.00% | |
| AUD | -0.03% | -0.07% | -0.01% | -0.06% | 0.05% | -0.10% | -0.04% | |
| JPY | -0.10% | -0.11% | -0.04% | -0.13% | -0.05% | -0.16% | -0.11% | |
| NZD | 0.06% | 0.02% | 0.08% | 0.04% | 0.10% | 0.16% | 0.06% | |
| CHF | -0.03% | -0.05% | 0.01% | -0.03% | 0.05% | 0.09% | -0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).