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Joachim Nagel, a member of the European Central Bank's Governing Council, stated that while borrowing costs can be gradually lowered, they should not fall below neutral levels that could hinder economic activity. He emphasized the importance of a measured approach, noting that euro-area consumer-price growth is slowing as expected, and there is no need for hasty actions.
The European Central Bank will not intervene in government-bond-market fluctuations caused by political risks, according to Governing Council member Joachim Nagel. He emphasized that the focus of the Governing Council's actions remains strictly on monetary policy, despite rising French borrowing costs linked to budget uncertainties.
Joachim Nagel, a member of the European Central Bank's Governing Council, cautioned against hasty interest rate cuts despite inflation trends moving toward the ECB's target. He noted that as wage pressures ease, inflation in services is expected to decline, signaling a potential return to the 2% target.
Joachim Nagel, a member of the European Central Bank Governing Council, has expressed concerns over the rising threat of geoeconomic fragmentation following Donald Trump's victory. He warned that this could lead to increased challenges for central banks, including heightened inflation volatility. Nagel emphasized the need for renewed cooperation and free trade to counteract these troubling trends.
Gold prices are on a record trajectory as EU inflation rises unexpectedly to 2.0%, dampening hopes for further ECB interest rate cuts. Meanwhile, the US national debt could surge post-election, with potential increases of $7.5 trillion under Trump and $3.5 trillion under Harris by 2025. Investors are eyeing the $2,800 mark for gold, with significant focus on upcoming US labor market data and the PCE deflator.
Joachim Nagel, a member of the European Central Bank's Governing Council, emphasized the importance of a cautious approach to interest rate cuts. He highlighted the value of a data-dependent strategy amid ongoing uncertainty and noted that a new economic projection in December will provide insights into inflation trends.
Inflation in Germany has unexpectedly risen to 2.0% in October, driven by higher prices for food and services, prompting concerns about the European Central Bank's (ECB) interest rate cuts. While some experts warn of persistent inflation due to rising wages, others believe this is not indicative of a second wave of inflation. The ECB faces pressure to reconsider its monetary policy as inflation exceeds its 2% target, with predictions of further increases in the coming months.
Bundesbank President Joachim Nagel criticized Russia's calls for international cooperation during the G20, labeling them a mockery in light of its invasion of Ukraine in 2022. He attributed part of Germany's economic downturn to the war, noting that the decline began in spring 2022, directly linked to the conflict.
Bundesbank President Joachim Nagel indicated that euro-area inflation might decline to the European Central Bank's target of 2% sooner than previously expected, potentially by 2025. He shared these insights while attending the International Monetary Fund's annual meetings in Washington.
Falling interest rates in the eurozone are failing to stimulate the economy, which is showing signs of contraction, particularly in Germany and France. The Purchasing Managers' Index indicates a downturn, with concerns of a potential recession looming as demand weakens and uncertainty grows over the impact of the upcoming US elections.
Joachim Nagel
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