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Search resuls for: "ECB policymaker Joachim Nagel"


4 mentions found


☆ Morning Bid: 'Not confident' Powell drags markets lower
  + stars: | 2023-11-10 | by ( ) www.reuters.com   time to read: +3 min
Since the Fed left rates unchanged last week, markets had increasingly grown confident that the peak in U.S. rates was in sight. But up stepped Powell to squash any hopes of an impending rate cut. "[The Fed] is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said. That led stocks lower, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidding 1% to their lowest in a week. The rise in yields boosted the dollar, which is headed for its best week against the yen in three months.
Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Christine Lagarde, Walt Disney, policymaker Joachim Nagel, SNB's Thomas Moser, Edmund Klamann Organizations: Monetary Fund's, REUTERS, Ankur, European bourses, Treasury, Industrial, Commercial Bank of China's, U.S . Treasury, Reuters, Thomson Locations: Washington , U.S, Asia, Pacific, Japan, European, U.S, Commercial Bank of China's U.S, Norway, Sweden
☆ ECB's Nagel says inflation has not been defeated yet
  + stars: | 2023-10-31 | by ( ) www.reuters.com   time to read: +1 min
Joachim Nagel, Bundesbank president and European Central Bank policymaker, prepares for an interview at the Jackson Lake Lodge in Jackson Hole, Wyoming, where the Kansas City Fed holds its annual economic symposium, August 24, 2023. REUTERS/Ann Saphir/File photo Acquire Licensing RightsFRANKFURT, Oct 31 (Reuters) - The European Central Bank must keep interest rates sufficiently high for long enough because inflation in the euro zone has not been conquered despite a significant fall in the past year, ECB policymaker Joachim Nagel said on Tuesday. "Our tight monetary policy is working, but we must not let up too soon," Nagel, the Bundesbank's president, said in remarks prepared for delivery at an economic think-tank in Berlin. "Rather, the key interest rates will have to remain at a sufficiently high level for a sufficiently long time." Reporting By Francesco Canepa Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Joachim Nagel, Ann Saphir, ECB policymaker Joachim Nagel, " Nagel, Francesco Canepa, Tomasz Janowski Organizations: European Central Bank policymaker, Kansas City Fed, REUTERS, Rights, European Central Bank, ECB, Thomson Locations: Jackson, Jackson Hole , Wyoming, Berlin
☆ Core inflation to start improving before summer break - ECB's Nagel
  + stars: | 2023-04-13 | by ( ) www.reuters.com   time to read: +1 min
WASHINGTON, April 13 (Reuters) - Core inflation rates in the euro zone will begin improving in the coming months, but the European Central Bank still has a way to go with monetary policy, ECB policymaker Joachim Nagel said on Thursday. "We expect core inflation will show first movements in the right direction before the summer break," the head of Germany's central bank said on the sidelines of an International Monetary Fund meeting in Washington. He cited encouraging inflation data from the United States as showing that central banks' interest rate hikes are working. However, the United States began its rate hike cycle earlier, Nagel said, adding that he expected the ECB's tightening cycle to be continued. While inflation in the euro zone dropped by the most on record in March, a measure that excludes energy and food prices, known by economists as core inflation and seen as a better gauge of the underlying trend, accelerated.
☆ ECB must act decisively to anchor inflation expectations, Nagel says
  + stars: | 2023-02-09 | by ( ) www.reuters.com   time to read: +1 min
FRANKFURT, Feb 9 (Reuters) - The European Central Bank must act decisively to prevent inflation expectations from rising far above its 2% target, ECB policymaker Joachim Nagel said on Thursday, reaffirming his call for more interest rate increases. "Decisive monetary policy action is necessary to reduce the risk of an unanchoring of long-term inflation expectations," Nagel, the Bundesbank's president, said in a slide accompanying a speech. Economists' and investors' expectations for inflation in the euro area from 2025 onwards are at or just above 2% but the ECB has said it will monitor the situation in case there is any further rise. The central bank for the euro zone raised interest rates by half a percentage point last week and pencilled in a move of the same magnitude for next month. Reporting By Francesco Canepa; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.
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