- ECB Executive Board member Isabel Schnabel said the energy shock caused by the Iran war is more persistent than initially thought.
- Schnabel said the shock is spreading beyond just oil into other energy channels.
- The remarks point to a longer-lasting energy-driven inflation impulse for the euro area, complicating the ECB's policy path.
Quotes
“The energy shock caused by the Iran war is proving to be longer-lasting than initially thought and is spreading beyond just oil”