Central Banks
ECB’s Nagel Wants More Hikes, Says German Recession Likely
- Bundesbank chief won’t put number on September rate increase
- Joachim Nagel comments in interview with Rheinische Post
A sign in a fashion retail store reads: "Closed until further notice" in Berlin.
Photographer: John MacDougall/AFP/Getty Images
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The European Central Bank should continue increasing rates, according to Bundesbank Chief Joachim Nagel, who warned that Germany faces a recession if the energy situation escalates.