ECB’s Nagel: We need to take further action
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European Central Bank policymaker Joachim Nagel told the German trade journal Zeitschrift für das gesamte Kreditwesen on Monday that he is optimistic that they can avoid a serious economic slump.
“We’re not seeing any wage-price spiral in the sense of a further increase in the inflation rate due to current wage agreements,” Nagel added and reiterated that the ECB needs to take further action to curb inflation expectations.
EUR/USD showed no immediate reaction to these comments and was last seen trading at 1.0680, losing 0.2% on a daily basis.
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