ICYMI: ECB's Nagel says eurozone core inflation is stubborn, need interest rates kept high

<p>Germany's Bundesbank President (and European Central Bank Governing Council member) Nagel is, as you would expect, a persistent hawk. </p><p>In a statement on Friday, ICYMI:</p><ul><li>“We expect high inflation in the euro area to weaken, but it is not over yet."</li><li>“Core inflation is stubborn, so our monetary policy needs to be even more stubborn. We need staying power.”
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“We need interest rates to be high enough and we need to keep them there for as long as necessary.”</li></ul><p>He didn't lock in his view on a September European Central Bank rate hike. </p><p>-</p><p>Meetings ahead for the ECB for the balance of this year:</p>

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