Schnabel, executive member of the European Central Bank, said that it is highly impossible to cut interest rates in the foreseeable future.

[European Central Bank Executive Committee Schnabel Table: it is highly impossible to cut interest rates in the foreseeable future] European Central Bank Executive Schnabel said that it is highly impossible to cut interest rates in the foreseeable future; slowing the pace of interest rate increases allows the Fed to assess the steps it has taken; more efforts are needed to bring inflation back to the 2 per cent target.