Member of the European Central Bank (ECB) Executive Board Isabel Schnabel said on Friday that the Eurozone economy models are "suggesting" that the peak of the "tightening impact" of restrictive monetary policies "may be over."
Speaking at the Bocconi University in Milan, Schnabel noted that ECB’s monetary policy has had "a weaker impact on dampening demand for services" while perceiving that businesses "are beginning to absorb higher costs into their profit margins."
The euro area economy "is bottoming out," she mentioned, adding that "there is hope we can achieve a soft landing," and control consumer prices without the risk of "causing a recession."
