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The ECB has asked EU leaders to begin selecting Executive Board member Isabel Schnabel's successor, a step that could prompt a broader senior-level reshuffle including the ECB presidency. European Council spokesman said President Costa received a let

2026-10-01

The ECB has asked EU leaders to begin selecting Executive Board member Isabel Schnabel's successor, a step that could prompt a broader senior-level reshuffle including the ECB presidency. European Council spokesman said President Costa received a letter from Lagarde requesting the formal appointment procedure for new ECB Executive Board members be started; an EU official confirmed Lagarde asked for immediate action. The Eurogroup is expected to advance the process and may discuss it at its Oct. 8 meeting in Luxembourg, potentially launching a call for candidates. Schnabel said last week she will leave the ECB nearly a year before her term ends to take a senior IMF post; her seat is due to be vacant in early January and EU leaders could make a decision at the December summit.

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2026-10-01

KASHKARI said the Fed does not need to achieve its inf target by inflicting pain on the labor market.

KASHKARI said the Fed does not need to achieve its inf target by inflicting pain on the labor market.
2026-10-01

Bank of England governor Bailey warned AI could trigger financial-market shocks and said the Bank is watching large capital flows into AI very closely. Asked whether an AI bubble could burst, he said “at some point asset prices may see some degree of

Bank of England governor Bailey warned AI could trigger financial-market shocks and said the Bank is watching large capital flows into AI very closely. Asked whether an AI bubble could burst, he said “at some point asset prices may see some degree of repricing.” He said the technology has “huge potential” to boost growth but carries significant risks, noting firms are currently priced as winners though not all will be. Bailey added a major potential benefit is that AI can speed up work that supports the MPC, but “it will not make decisions for us; it is a tool for policymakers.”
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