Central Banks
ECB Should Be Cautious and Not Rush Further Cuts, Nagel Says
- Officials have ‘some way to go’ in beating inflation
- Bundesbank president comments in speech in Frankfurt
Joachim Nagel
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank can afford to take a careful approach to lowering interest rates and officials should keep paying close attention to incoming information, according to Governing Council member Joachim Nagel.
“Our data-dependent approach has proven its worth, especially in view of the prevailing uncertainty,” the Bundesbank president said Wednesday in Frankfurt. “In December, the Governing Council will have a new economic projection. This will show us whether we are still on track with regard to inflation developments. My advice is to remain cautious and not to rush.”