ECB’s Nagel: Central bank is a long way from inflation target

Dhwani Mehta FXStreet

European Central Bank (ECB) policymaker and Germany’s central bank head Joachim Nagel said in an interview with Stern on Tuesday, the “central bank is still a long way from hitting its inflation goal.”

Nagel noted, “inflation is persistent and thus the European Central Bank must also be persistent on rates.”

Market reaction

EUR/USD is trading on the defensive at around 1.0600, as rallying US Treasury yields outweigh the US Dollar weakness.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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