Bundesbank President Joachim Nagel said on Wednesday that interest rates in the Eurozone are close to their peak. He explained that economic data will determine whether more tightening is needed.
Regarding inflation, Nigel mentioned it is on track to move towards the ECB target while speaking at an even in Milan.
Market reaction
The EUR/USD is falling on Wednesday; it trimmed losses during the last two hours, rising from near 1.0850 to 1.0880.
Source: https://www.fxstreet.com/news/ecbs-nagel-interest-rates-are-close-to-the-their-peak-202311221735