Isabel Schnabel, member of the executive board of the European Central Bank (ECB), pointed out on Friday evening that a single interest rate cut by the ECB does not guarantee further cuts, and that inflation in the EU, and in particular services inflation, is proving to be a complex opponent.
The most significant information
The first cut does not automatically mean that a series will be created.
The pace and extent of the ECB interest rate cuts will depend on the data.
Transportation costs and protectionism could drive up inflation.
Some data did not entirely match the forecasts.
Services price inflation is proving particularly stiff.
Services inflation shows that the last mile of the fight against inflation is particularly complex
