ICYMI – ECB's Nagel says the Bank's mandate is price stability, not to make banks happy

<p>Joachim Nagel is president of the Deutsche Bundesbank and thus a key member of the European Central Bank Governing Council. </p><p>He spoke on Monday in Frankfurt, but didn't have much to say on monetary policy. He did say that inflation is still much too high — and that’s what officials are focusing on rather than giving out subsidies to lenders:</p><ul><li>“Our mandate in the Governing Council is crystal clear, this is price stability,”</li><li>“It’s not our — let me say — intention when we discuss those things to make the banks happy. This is definitely not the case.”</li></ul><p>-</p><p>His boss spoke on Monday also:</p><ul><li><a href="https://www.forexlive.com/centralbank/ecbs-lagarde-its-critical-for-central-banks-to-keep-inflation-expecations-anchored-20230904/" target="_blank" rel="follow" data-article-link="true">ECB's Lagarde: It's critical for central banks to keep inflation expecations anchored</a></li></ul>

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