ICYMI – ECB's Nagel said rates will have to stay higher for longer

<p>Germany's Bundesbank President (and European Central Bank Governing Council member) Nagel spoke on Thursday.</p><p>He was at at a DEKRA event. DEKRA is a global vehicle inspection company based in Germany, known for their testing, inspection, and certification services. They host various events for industry discussion and such.</p><p>Nagel sounded a less than dovish note, as is usual for a BuBa head. </p><ul><li>
Rates to stay restrictive for an extended period</li><li>Rates will have to
remain high for a longer period</li><li>Currently don’t
see the threat of excessive tightening</li><li>Can’t yet say
where interest rates will peak</li></ul><p>—</p><p>Nagel spoke earlier in the week also:</p><ul><li><a href="https://www.forexlive.com/centralbank/ecbs-nagel-interest-rates-must-rise-further-20230705/" target="_blank" rel="follow" data-article-link="true">ECB's Nagel: Interest rates must rise further</a></li><li><a href="https://www.forexlive.com/centralbank/ecbs-nagel-inflation-is-not-retreating-as-we-would-like-it-to-20230703/" target="_blank" rel="follow" data-article-link="true">ECB's Nagel: Inflation is not retreating as we would like it to</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.