ECB’s Nagel: Price pressure in Eurozone could continue for some time

In an interview with WiWo on Wednesday, European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said that price pressures in the Eurozone could continue for some time, per Reuters.

“It’s not completely clear if the inflation rate will reach 2% target next year and stay at this level,” Nagel added and noted that he expects a “slight growth” in German economy in 2024.

Market reaction

These comments don’t seem to be impacting the Euro’s valuation in a noticeable way. At the time of press, EUR/USD was up 0.15% on the day at 1.0635.