European Central Bank Executive Board member Isabel Schnabel warned that price pressures could turn out stronger than anticipated even as a US-Iran peace deal reopens the Strait of Hormuz.
In a presentation for the Petersberger summer dialogue 2026 in Koenigswinter, Germany, Schnabel said Saturday that “food, goods and services inflation are facing upside risks,” adding that the “energy price shock can feed into broader inflationary dynamics.”