off-the-wire

ECB's Nagel calls for more, big rate hikes - BZ

Kitco Media
By Reuters
Published:
Updated:
Reuters

FRANKFURT, Feb 7 (Reuters) - The European Central Bank needs more, big interest rate increases to bring inflation back to 2% but it should proceed one step at a time given the prevailing uncertainty, ECB policymaker Joachim Nagel told a German daily.

"From where I stand today we need further, significant rate hikes," the president of the Bundesbank told Boersen-Zeitung. "But I find it right that we proceed step by step."

Reporting By Francesco Canepa; Editing by Frank Jack Daniel
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