ICYMI – ECB’s Nagel said rates will have to stay higher for longer

Germany’s Bundesbank President (and European Central Bank Governing Council member) Nagel spoke on Thursday.

He was at at a DEKRA event. DEKRA is a global vehicle inspection company based in Germany, known for their testing, inspection, and certification services. They host various events for industry discussion and such.

Nagel sounded a less than dovish note, as is usual for a BuBa head.

  • Rates to stay restrictive for an extended period
  • Rates will have to
    remain high for a longer period
  • Currently don’t
    see the threat of excessive tightening
  • Can’t yet say
    where interest rates will peak

Nagel spoke earlier in the week also:

This article was written by Eamonn Sheridan at www.forexlive.com. Source