ECB's Nagel: Inflation is not retreating as we would like it to

<p>ECB's Nagel is saying inflation is not retreating as we would like it to.</p><ul><li>He is confident a hard landing can be avoided</li></ul><p>Earlier he said:</p><ul><li>We still have way to go with policy tightening</li><li>Monetary policy signals are clearly pointing in the direction of further tightening</li><li>Euro systems balance sheet should be significantly reduced in coming years</li></ul><p>Nagel is generally more hawkish. The ECB is expected to raise rates in July. Lagarde last week said that the September meeting is data dependent.</p><p>The EURUSD is extending up toward its 100 hour moving average of 1.09095.</p>

This article was written by Greg Michalowski at www.forexlive.com.