ICYMI – ECB’s Nagel says the Bank’s mandate is price stability, not to make banks happy

Joachim Nagel is president of the Deutsche Bundesbank and thus a key member of the European Central Bank Governing Council.

He spoke on Monday in Frankfurt, but didn’t have much to say on monetary policy. He did say that inflation is still much too high — and that’s what officials are focusing on rather than giving out subsidies to lenders:

• “Our mandate in the Governing Council is crystal clear, this is price stability,”
• “It’s not our — let me say — intention when we discuss those things to make the banks happy. This is definitely not the case.”

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His boss spoke on Monday also:

• ECB’s Lagarde: It’s critical for central banks to keep inflation expecations anchored

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