Germany's Bundesbank President (and European Central Bank Governing Council member) Nagel spoke on Thursday.
He was at at a DEKRA event. DEKRA is a global vehicle inspection company based in Germany, known for their testing, inspection, and certification services. They host various events for industry discussion and such.
Nagel sounded a less than dovish note, as is usual for a BuBa head.
- Rates to stay restrictive for an extended period
- Rates will have to remain high for a longer period
- Currently don’t see the threat of excessive tightening
- Can’t yet say where interest rates will peak
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Nagel spoke earlier in the week also:
- ECB's Nagel: Interest rates must rise further
- ECB's Nagel: Inflation is not retreating as we would like it to
