Joachim Nagel, a member of the Governing Council of the European Central Bank (ECB), stated that the ECB will not intervene in government-bond-market fluctuations caused by political risks.

Nagel emphasized that the ECB's focus is solely on monetary policy and does not extend to addressing issues arising from political developments. He also highlighted the central bank's commitment to its primary monetary policy objectives.

Nagel's comments were made in response to the increase in borrowing costs in France, which have been attributed to uncertainties surrounding the upcoming budget for next year.