ChainCatcher reported, citing Jinshi, that European Central Bank Governing Council member Nagel said this week’s interest-rate increase remains necessary even if the war comes to a rapid end. The comment refers directly to the ECB’s near-term rate decision and states that the planned hike for this week should not be changed solely because the war ends quickly.
Public remarks from members of the ECB Governing Council are often used to communicate monetary-policy views. In this statement, Nagel’s central message is that the rate hike scheduled for this week is still regarded as necessary, with that judgment separated from whether the war concludes rapidly.
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