ECB’s Nagel: Latest rate hike won’t be the last
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Speaking on the sidelines of a Group of Seven (G7) meeting in Japan, European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Friday, the latest interest rate hike won’t be the last as it needs to ensure the current wave of inflation comes to an end.
“Current data did not indicate that the ECB should change its thinking on the need for further rate hikes.”
“We need to be sure that the latest inflation wave ends.”
Despite the hawkish comments from Nagel, EUR/USD is erasing gains to trade flat at 1.0910, as of writing.
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