ECB watching heatwave impact on inflation, Deutsche Bank says

The water levels in Germany’s Rhine river have fallen to another record low, reaching just 6cm at the Kaub chokepoint. The shallow waters have disrupted shipping, shifting more freight to road and rail. Marc Schattenberg, Chief Economist at Deutsche Bank Research, tells CNBC’s Ritika Gupta and Annette Weisbach that the European Central Bank is closely watching the inflationary impact of the extreme heat, including its effects on energy and consumer goods prices.