By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Monday reiterated that the ECB could “no longer look through” the shock from the conflict in the Middle East.

“The risk of de-anchoring inflation expectations is rising,” she said at a conference of the Bank of Korea in Seoul.

It was “too early to say that it’s a certain number of hikes and then it’s done,” she said. “We really have to see what’s going to happen.”

It was evident globally that pipeline price pressure was increasing, she warned. “This will exert inflationary pressure basically all over the world.”