ECB’s Nagel: The ECB is likely to hike rates unless the outlook improves markedly
European Central Bank (ECB) Governing Council member and President of the Deutsche Bundesbank, Joachim Nagel, said during the European trading session on Friday that the central bank could raise interest rates if the outlook for the Eurozone economy doesn’t improve markedly. The ongoing conflicts between the United States (US) and Iran have dampened the global growth outlook and have de-anchored inflation expectations.
Market reaction
No immediate response from the Euro (EUR) after ECB Nagel's comment. As of writing, EUR/USD trades 0.15% higher to near 1.1765 due to weakness in the US Dollar (USD).
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