ECB's Nagel: Tight labor market could result in persistent inflationary pressures

<ul><li>Rates have not peaked and eventual peak must be held for an extended period until inflation is broken</li></ul><p>Once we've reached peak rates or near-peak rates, the debate will immediately shift to the question of how long to keep rates high. Central banks are talking tough but history shows they will cut when a recession is imminent.</p>

This article was written by Adam Button at www.forexlive.com.