ECB’s Schnabel: Not Sure Liberation Day Will Be ‘Day of Peak Uncertainty’
5 April 2025
Isabel Schnabel, Executive Board member at the European Central Bank, at the ECB Forum on Central Banking in Sintra, Portugal on June 27, 2023. Photo by Sérgio Garcia/ECB under CC BY-NC-ND 2.0.
By Marta Vilar – MADRID (Econostream) – European Central Bank Executive Board member Isabel Schnabel said on Saturday that uncertainty could increase even further.
Speaking at the The Outlook for the Economy and Finance 2025 conference in Cernobbio, Italy, Schnabel said that recent developments had generated a ‘dramatic surge in uncertainty’ which had just started.
‘Some people had the view that Liberation Day could be the day of peak uncertainty, but I'm not entirely sure that is the case’, she said.
By David Barwick – FRANKFURT (Econostream) – It’s easy to picture some of those listening to European Central Bank Governing Council member François Villeroy de Galhau’s speech last Thursday doing a double-take on hearing him say that the next change in ECB interest rates was probably destined to be a hike.
By David Barwick – FRANKFURT (Econostream) – The Insight we published on April 1 argued that European Central Bank Governing Council communication had lately grown distinctly more tentative. Austrian National Bank Governor Martin Kocher’s Politico interview on April 2 lets us make the point more plainly: as things stand today, the burden of proof at the April meeting lies with a hike, not a hold.
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras said on Monday that the ECB would have to consider a tighter monetary policy stance if Middle East-related energy shocks proved persistent enough to affect medium-term inflation expectations and wages.
By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 20 March 2026 with Petra Wehlert, Head of Capital Markets of KfW.
By Marta Vilar – MADRID (Econostream) – German investment and development bank KfW is likely to issue another euro green bond in Q2 2026, according to KfW’s Head of Capital Markets, Petra Wehlert.
By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 13 March 2026 with Adrián Martínez, Vice Director of the Swiss Federal Finance Administration.
