ECB's Nagel: Need to be convinced inflation is heading back to target before cutting rates
Source Fxstreet
Apr 23, 2024 12:52
"Before cutting interest rates, we must be convinced based on data that inflation will actually reach our target in a timely and sustained manner," European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Tuesday.
"If the favourable inflation outlook from March is confirmed in the June projections and incoming data supports this outlook, we can consider a rate cut," Nagel further elaborated.
Market reaction
EUR/USD showed no immediate reaction to these comments and was last seen trading modestly higher on the day near 1.0670.
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ECB's Nagel: Need to be convinced inflation is heading back to target before cutting rates"Before cutting interest rates, we must be convinced based on data that inflation will actually reach our target in a timely and sustained manner," European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Tuesday.
"Before cutting interest rates, we must be convinced based on data that inflation will actually reach our target in a timely and sustained manner," European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Tuesday.
Japan's Weighted Median Inflation Index, a key measure of the country’s trend inflation, rose at its slowest pace in 11 months to 1.3% in March, the latest data published by the Bank of Japan (BoJ) showed on Tuesday.
