European Central Bank Executive Board member Isabel Schnabel pushed for this month’s decision statement to signal possible interest-rate hiking in future, according to people with knowledge of the matter.
Schnabel, the official in charge of markets, argued against the Governing Council’s avoidance of explicit wording on the path of monetary policy after the half-point hike in borrowing costs on March 16, said the people, who declined to be identified because such meetings are private.