Central Banks
ECB Probably at Rate Peak But Too Soon to Consider Cuts, Nagel Says
- Inflation is still too high, Nagel says in ZDF interview
- Policymakers will rely on data for decisions next year
Joachim Nagel
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank has probably concluded its hiking cycle, but it’s still too early to consider lower borrowing costs, according to Governing Council member Joachim Nagel.
“There’s a high likelihood that after 10 rate increases we’ve reached the interest-rate plateau,” Nagel said Friday in an interview with German broadcaster ZDF. “In my view, it’s much too early to think about when rate cuts might possibly happen.”