![ECB schnabel](https://images.forexlive.com/images/ECB%20schnabel_id_f0f4ab66-cf60-408d-a311-7691ebb1c5e6_original.jpg)
ECBs Schnabel is speaking and she says:
- services inflation is showing that the last mile inflation fight is especially difficult
- Some data was not quite in line with projections.
- The ECB is not on a predetermined path. A first cut does not imply a series of cuts.
- Freight costs, protectionism could drive inflation.
- Pace and extent of ECB rate cuts will depend on the data
- Closely watching sticky services prices