Homepage > Central Banks > ECB Schnabel: Further rate hikes will help bring inflation back to our target Central Banks ECB Schnabel: Further rate rises will help bring inflation back to target ECB Isabel Schnabel comments Schnabel Button Friday, 10.2.2023 | 15:11 GMT 1 0 Isobel Schnabel Fighting inflation is our priority. We have raised interest rates at a record pace and are beginning to reduce our holdings of bonds. And we remain on track to raise interest rates to bring inflation back to our 2 percent target on time. A further increase in interest rates will help bring inflation back to our target, which together with the nominal wage will raise the real wage We will fight high inflation and support the sustainable growth of the Euro-regional economy. The war made us all worse off, but we are doing our best to limit the consequences We must fight high inflation by tightening monetary policy. Currently, new lending, even if green, does not meet our price stability mandate. Returning inflation to target levels is our best bet for a green transition. We and many other forecasters underestimated continued inflation from energy price shocks, supply chain disruptions and strong demand. We will do everything possible to bring inflation to our 2% target in time. Housing costs affect people’s expenses, but they are only partially included in the inflation rate. In our strategic review, we recommend that housing costs be better reflected in the future. Schnabel is doing an #AskECB QandA, so the Q&A is a bit general.