ECB's Nagel dismisses rate-cut talk, calls inflation 'greedy beast'

<p>ECB's Nagel dismisses rate-cut talk, calls inflation 'greedy beast'</p><p>It is far too early to talk about cutting the European Central Bank's interest rates as inflation is a "very greedy beast" that is hard to beat, ECB policymaker Joachim Nagel said on Wednesday.</p><ul><li>"This discussion (on when interest rates can be cut) is not helpful… it is much, much too early," he told an event in London. "Inflation is a greedy beast, a very greedy beast,"</li><li>"When we have to deal with a beast that is so stubborn, we have to be even more stubborn."</li></ul>

This article was written by Ryan Paisey at www.forexlive.com.