Central Banks
ECB Must Not Let Up Too Soon in Inflation Fight, Nagel Says
- Rate hikes needed beyond October, sizes determined by data
- Reducing balance sheet should be addressed in timely manner
A supermarket in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
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The European Central Bank must press ahead with raising interest rates and reducing its balance sheet to ensure inflation expectations don’t unanchor and demand a more aggressive policy response, according to Governing Council member Joachim Nagel.