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| ECB's Nagel: Inflation Fight Not Over Yet |
Bundesbank Chief and European Central Bank (ECB) policymaker, Joachim Nagel, stated in an interview with the Financial Times on Wednesday that while progress has been made, "there's still some way to go, but we are approaching restrictive territory." Nagel emphasized that the fight against inflation is far from over and that price pressures are strong and broad-based across the economy. He also highlighted the need to be more stubborn in the effort to tame inflation. Despite the current situation, Nagel reassured that the Eurozone is not facing a repeat of the 2008 financial crisis and that the region can manage this.
Nagel also stressed that those who benefit from opportunities should also take their share when risks materialize, referring to one of the lessons learned from the global financial crisis. He expressed his confidence in a soft landing for Germany and the Eurozone. Despite these comments, the EUR/USD exchange rate remained relatively stable, with no significant change in response to Nagel's remarks.
