ECB's Schnabel says labour costs possibly indicate 2nd round inflationary effects

<p>ECB board member Isabel Schnabel is speaking in the US, in a panel discussion at 39th Annual National Association for Business Economics' (NABE) Economic Policy Conference, "Orienting Policy for a Polarized World", in Washington, D.C.</p><p>Not a lot from her. She did say that the rise in labour costs is possible indicative of second-round effects on inflation. </p><p>On the banking sector woes:</p><ul><li>at this point it appears as if we have somewhat smaller banking problems than we are seeing in the US</li><li> <p> we cannot exclude that banking troubles could have a 'disinflationary effect', which could have monetary policy implications</p></li><li><p> my suspicion is that the energy impact will to drop out of core inflation quickly</p> </li></ul><p>EUR not doing much at all:</p> This article was written by Eamonn Sheridan at www.forexlive.com.

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