Bundesbank President Joachim Nagel has suggested that the European Central Bank (ECB) could achieve its inflation target of 2% earlier than expected.

Nagel made this statement during the International Monetary Fund's annual meetings in Washington.

The earlier achievement of the inflation target could potentially impact the ECB's monetary policy decisions.

Nagel's comments may indicate a change in strategy for the ECB in response to evolving economic conditions, as central banks worldwide navigate economic challenges.