Germany’s Bundesbank President (and European Central Bank Governing Council member) Nagel is, as you would expect, a persistent hawk.
In a statement on Friday, ICYMI:
- “We expect high inflation in the euro area to weaken, but it is not over yet.”
- “Core inflation is stubborn, so our monetary policy needs to be even more stubborn. We need staying power.”
- “We need interest rates to be high enough and we need to keep them there for as long as necessary.”
He didn’t lock in his view on a September European Central Bank rate hike.
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Meetings ahead for the ECB for the balance of this year:
This article was written by Eamonn Sheridan at www.forexlive.com. Source