European Central Bank Governing Council member Joachim Nagel says the ECB is prepared to increase interest rates again at its July meeting if needed. Nagel links the decision to how disruptions tied to the war in the Middle East affect the euro area outlook, particularly inflation and the broader economic environment. He indicates the ECB is considering another step even if it has already tightened policy at the prior meeting, framing it as a conditional move rather than a commitment to hike automatically. The statement underscores that the ECB’s next decision will depend on incoming data and the magnitude of any spillovers from the conflict, including impacts on prices, demand, and expectations. The remarks reflect the ECB’s ongoing approach of adjusting policy based on prevailing risks to price stability, with officials assessing whether external shocks create additional inflation pressure that would require further rate increases. No specific rate or timetable change beyond the July meeting is provided in the reports.
ECB says it may raise rates again in July if Middle East shock warrants
European Central Bank Governing Council member Joachim Nagel says the ECB is prepared to increase interest rates again at its July meeting if needed. Nagel links the decision to how disruptions tied t...
- Joachim Nagel, a member of the ECB’s Governing Council, says the ECB could raise interest rates again in July.
- The decision is described as conditional on how the war in the Middle East affects the outlook.
- Nagel suggests the ECB may consider a second consecutive rate increase at the next meeting if required.
- The reports present the move as data-dependent rather than automatic.
The European Central Bank is prepared to raise interest rates for a second straight meeting next month if the shock from the war in the Middle East requires it, according to Governing Council member Joachim Nagel.
2 months agoThe European Central Bank is prepared to raise interest rates for a second straight meeting next month if the shock from the war in the Middle East requires it, according to Governing Council member Joachim Nagel.
2 months ago
NGX extends losses as profit-taking drives investors to record multi-trillion losses
The Nigerian Exchange Group market turns down again as investors record large portfolio losses and the NGX All-Share Ind...
Marvell shares slip after better-than-expected revenue guidance disappoints some investors
Marvell reports revenue guidance that tops expectations, but its shares fall after the announcement. Multiple outlets de...
One Nation reveals Cessnock candidate Mike Newman; Stuart Bonds attacks NSW Liberal leader
One Nation announces Mike Newman as its Cessnock candidate and names him as the party’s NSW leader, prompting criticism...