ECB's Nagel: Interest rates must rise further

<ul><li>Too early to say how far</li><li>Wary of proclaiming a new era of high interest rates</li><li>Price stability won't come about by itself</li></ul><p>While hawkish, it's a bit of a vague one as this perhaps leaves the door open for September but doesn't explicitly confirm it. That said, it's not good form for him to break rank I guess.</p>

This article was written by Justin Low at www.forexlive.com.