ECB’s Nagel: Can assure we will not rest until we've overcome high inflation rates
|European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel, during his scheduled appearance on Friday, said that “I can assure you we will not rest until we've overcome high inflation rates. “
Additional comments
Developments in Middle East are at centre of discussions at imf-world bank meetings.
Germany supporting IMF quota increase to strengthen IMF.
Labor market in Germany remains strong, expect consumer demand to increase.
Inflation has peaked in Germany.
Expect inflation to drop to 2.7% in 2025.
We need clear rules to reduce fiscal deficits in Europe, allowing deficits to rise would be bad signal.
Germany ready to accept smaller imf quota increase to benefit other countries.
Good chance that IMF members will reach 'good compromise' on quota increase.
Tightening of monetary policy yielding results and moving inflation in positive direction.
Market reaction
At the time of writing, EUR/USD is trading near 1.0550, holding higher while adding 0.17% on the day.
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