ECB’s Nagel Doesn’t See Interest Rates at Restrictive Level Yet

European Central Bank Governing Council member Joachim Nagel said he doesn’t think interest rates have reached a level that puts a brake on economic activity — something that officials deem necessary to get inflation under control.

“From today’s point of view, I can’t see that we’re in restrictive territory now, and I can’t say exactly where the restrictive territory will be,” Nagel said at an event in Berlin. “I’ll make that dependent on what the new projections will look like.”