ECB’s Nagel remains cautious on next rate move

Bundesbank President Joachim Nagel struck a measured tone on the path ahead for interest rates, saying it is too soon to decide on a further cut next month, referring to the European Central Bank’s (ECB) upcoming policy decision.

Key Quotes

• It’s too early to say if the ECB will cut rates again next month.
• The euro area’s 2% inflation target is within reach.
• Inflation could be higher or lower than previously seen.
• Forecasts are based on less solid ground than usual.
• I’m keeping a close eye on inflation expectations.
• Germany saw a lot of trade frontloading in Q1.