Nagel Says Inflation to Hit 2% Goal, ECB Must Stay Focused

European Central Bank policymakers must remain on alert even with consumer-price growth on track to slow to 2% by the end of next year, Bundesbank President Joachim Nagel said.

“If we look at the inflation picture for this year and next year, we assume that we will reach our target by the end of 2025 at the latest,” he said at his institution’s open day in Frankfurt on Saturday. “But I also know — unfortunately, that’s the way with inflation — that we have to stay focused because as a central bank there are many things, such as energy prices, that we can’t control.”