ECB Executive Director Schnabel: If risks arise, interest rates may eventually need to be raised

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European Central Bank (ECB) Executive Board member Isabel Schnabel made some comments on Friday about the central bank’s interest rate outlook.

“If the risks materialize, a rate hike may ultimately be necessary,” Schnabel said.

The ECB policymaker added: “We cannot rule out a recession, although we do not think it will be a severe one.”