ECB Official: Eurozone Economy More Resilient Than Expected, Rate Hikes Cannot Wait

European Central Bank Executive Board member Isabel Schnabel warned that with Middle East conflicts continuing to push up energy costs and the eurozone economy performing consistently stronger than expected, upside risks to inflation have not faded, and "further tightening will be necessary." In an environment where economic demand remains resilient, second-round effects must be curbed early, as "delaying action will only force more tightening later."