Joachim Nagel, President of Germany's federal reserve Bundesbank addresses the media during the bank's annual news conference in Frankfurt, Germany March 1, 2023.
REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsNICOSIA, Dec 3 (Reuters) - Euro zone inflation will carry on declining in the months ahead but at a slower pace, Bundesbank President Joachim Nagel was quoted as telling Cypriot newspaper Kathimerini on Sunday.
"We have not yet won the fight against inflation," said Nagel, who visited Cyprus last week.
"Add in a scenario where an escalation of geopolitical tensions could imply higher inflation and it becomes clear that it would be way too early to declare victory over high inflation rates," said Nagel, an influential voice on the ECB's rate setting Governing Council.
"All in all, I expect inflation to carry on declining, but at a slower pace and with possible bumps along the way," Nagel said.
Persons:
Joachim Nagel, Kai Pfaffenbach, Nagel, " Nagel, Michele Kambas, David Goodman
Organizations:
REUTERS, Rights, Cypriot, Central Bank, ECB, Thomson
Locations:
Frankfurt, Germany, Rights NICOSIA, Cyprus