Central Banks
ECB’s Nagel Says Much Too Early to Consider Rate Hike Pause
- Bundesbank president speaks in BTV interview at Jackson Hole
- More data needed to decide on next policy step, Nagel says
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European Central Bank Governing Council member Joachim Nagel said that he’s not convinced inflation is under control enough for a halt in interest rate hikes, with his decision hinging on additional data in the coming weeks.
“It’s for me much too early to think about a pause,” the Bundesbank chief told Bloomberg TV at Jackson Hole Thursday, adding that he’ll wait for additional figures before making a decision. “We shouldn’t forget inflation is still around 5%. So this is much too high. Our target is 2%. So there’s some way to go.”