Central Banks
ECB’s Nagel Urges ‘Robust’ December Hike and QT in Early 2023
- Premature to settle on size of next rate increase, he says
- Bundesbank chief sees fresh data, forecasts key to decision
Joachim Nagel
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank will deliver another “robust” interest-rate increase next month, though it’s premature to settle on its size just yet, according to Bundesbank President Joachim Nagel.
Inflation data due before the Governing Council’s Dec. 14-15 meeting and new economic projections through 2025 will be key to determining whether a third straight 75 basis-point hike is needed to tackle record inflation, or whether a half-point step is sufficient, Nagel told journalists in Frankfurt.