ECB's Schnabel: Not expecting inflation to be persistently too high

European Central Bank Executive Board Member Isabel Schnabel said on Tuesday that they are not expecting inflation to be persistently too high in the euro area, as reported by Reuters.

On Monday, Schnabel noted that sentiment in the eurozone was brightening but acknowledged that people were understandably worried about inflation developments.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was up 0.16% on a daily basis at 1.1827.