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Nagel Takes Charge of Bundesbank With Warning on Inflation Risks

  • Monetary policy must be ‘on guard’ to defend price stability
  • New chief vows to follow established German line on policy
Joachim Nagel speaks on Jan. 11.

Joachim Nagel speaks on Jan. 11.

Photographer: Nils Thies/Deutsche Bundesbank

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New Bundesbank President Joachim Nagel warned in his first speech on the job that inflation may remain elevated for longer than currently expected, urging his colleagues at the European Central Bank to be vigilant.