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
