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Joachim Nagel: “There is a possibility that inflation will remain at an elevated level for the time being.”

At the ECB Forum in Sintra, Portugal, Bundesbank President Joachim Nagel spoke with CNBC and Bloomberg about the challenges facing the euro area economy and the outlook for monetary policy.

Joachim Nagel: “There is a possibility that inflation will remain at an elevated level for the time being.”

Inflation elevated for the time being

According to Joachim Nagel, there is a possibility that inflation will remain at an elevated level for the time being. Monetary policy must therefore remain vigilant and base its decisions on incoming data.

Challenges for the Euro Area

The euro area economy faces several challenges—ranging from geopolitical uncertainties to structural adjustments. Nagel emphasized the importance of price stability as a foundation for sustainable growth.

Outlook for monetary policy

Regarding the future course of monetary policy, Nagel advocated for a prudent approach, guided by economic data, in order to steer inflation sustainably toward the target level.

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