ECB's Nagel: No rate cut talks before Q2's data - Breaking The News

ECB's Nagel: No rate cut talks before Q2's data

23 February

1 min read

EPA-EFE/JAVIER LIZON

Member of the European Central Bank (ECB) Governing Council and Deutsche Bundesbank President Joachim Nagel spoke on Friday against the former institution cutting the key interest rate before receiving economic updates for the second quarter of 2024.

Speaking to reporters at a Bundesbank press conference, Nagel insisted that only after that the council will be able to start discussing the rates. He also predicted that inflation in the Eurozone will remain above the target of 2% in the next few months.

Earlier in the day, member of the ECB Executive Board Isabel Schnabel hinted at a possibility of the peak of the "tightening impact" of restrictive monetary policies nearing its end.

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