European Central Bank Executive Board member Schnabel clarifies "should not cut interest rates" does not equal "should raise interest rates" and is not expected to raise interest rates in the foreseeable future.

According to the Wise Finance APP, Isabelle Schnabel, a member of the Executive Board of the European Central Bank, said that she does not expect interest rates to be raised for a period of time. After Schnabel's recent comments prompted investors to increase their bets on rising borrowing costs next year, she clarified that she did not say that interest rates should be raised.