ECB's Schnabel: Can't simply include house prices in inflation basket

The market information is always a crucial input into the European Central Bank's decisions it doesn't always "serve us well", said Isabel Schnabel, Member of the Executive Board of the European Central Bank, while speaking at the Barclays International Monetary Policy Forum on Thursday.

"There is a debate over whether we should look at other survey indicators of inflation expectations," Schnabel added. "This is something that will be part of the ECB policy review, but there are no answers yet."

Schnabel also noted that she doesn't think asset prices and house prices should be included while measuring inflation.

EUR/USD reaction

The EUR/USD pair ignored these comments and was last seen trading at 1.0940, adding 0.55% on the day.