Central Banks
ECB Should Be Able to Cut If Data Stay on Course, Nagel Says
- Governing Council isn’t on ‘autopilot’ on rate moves
- The ‘greedy inflation beast’ no longer exists, he says
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The European Central Bank should be able to lower borrowing costs if economic data don’t deliver a negative surprise, according to Bundesbank President Joachim Nagel.
“If the figures remain the same over the next twelve months, there might be a chance that we can reduce interest rates further at one or the other meeting,” the German central banker told reporters in Rio de Janeiro on Thursday.