Raising euro zone interest rates in the current environment would have a devastating impact, European Central Bank board member Isabel Schnabel said on Sunday, adding that temporary spikes in inflation should not be confused with a trend. Schnabel was responding to a question in a German public radio interview about how long savers would have to wait for an end to the bank’s zero rates policy. “I can’t say when a rate increase will come, but what I can say is that a hike in the current environment would have a devastating impact and nobody should want that,” she said. Schnabel said one-off effects including the end ... (full story)