ECB's Schnabel is speaking and says:We are facing a massive energy price shock.There is no need to rush into action. We have time to analyze the data.This has a stagflation-lite feel—the energy shock keeps inflation risks alive, but the wait-and-see stance tells you the ECB isn’t in a hurry to support growth. That’s not a green light for risk, and it leans more bearish for the economy, while keeping a hawkish bias on inflation vigilance. This article was written by Greg Michalowski at investinglive.com.