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ECB’s Schnabel: Cannot Exclude Possibility That Markets Are Complacent

3 October 2025

ECB’s Schnabel: Cannot Exclude Possibility That Markets Are Complacent
Isabel Schnabel, member of the ECB’s Executive Board, at the ECB Conference on Monetary Policy 2024 on October 8, 2024. Photo by the ECB.

By David Barwick – AMSTERDAM (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday suggested that markets could be complacent.

During the Q&A part of her panel at a symposium in Amsterdam honoring De Nederlandsche Bank President Klaas Knot, Schnabel said of this possibility, “Unfortunately we cannot fully rule that out.”

“It would not be the first time that financial markets are complacent, and we also know that risk sentiment can change very quickly, and then we can get all types of non-linearities,” she said.