Deutsche Bundesbank President Joachim Nagel stated on Tuesday that interest rates should "rise even further" because "inflation is also extremely high."
"The important thing is: we are not taking a break. People now feel that monetary policy is dampening the economy. And it has to if it is to break inflation," Nagel said during an interview with Frankfurter Allgemeine.
Commenting on the European Central Bank's future meetings, Nagel added that "the central bank's balance sheet will be reduced more sharply than before from July onwards."
