Central Banks
ECB’s Nagel Falls in Line With Rate-Setters Open to Summer Cut
- Bundesbank chief says easing policy now would be too soon
- Arch-hawk Holzmann warns against expecting any cuts this year
This article is for subscribers only.
European Central Bank Governing Council member Joachim Nagel joined a growing group of colleagues who are open to considering lowering interest rates this summer — suggesting the euro zone’s economic tides are starting to turn.
For the first time since borrowing costs reached their peak in September, Nagel — the influential Bundesbank president — conceded in a Bloomberg TV interview that summer may be an appropriate juncture to discuss whether growth and inflation have weakened sufficiently to ease policy.