According to Bundesbank President Joachim Nagel, the ECB will continue to raise interest rates beyond October in the fight against escalating inflation. “The outlook is such that the inflation rates, as it looks from today’s perspective, point even further upwards,” said Nagel at the Bundesbank’s open day in Frankfurt. The monetary authorities would therefore have to remain persistent at the October meeting and afterwards until the end of the year. Interest rates continued to rise. “Not just in October,” he added. However, the currency watchdogs always made possible interest rate increases dependent on the current data situation. The next interest rate meeting of the European Central Bank (ECB) is scheduled for October 27th, the last one this year on December 15th. The ECB had initiated the turnaround in interest rates in July and on Thursday a week ago made a significant increase of 0.75 percentage points. The inflation rate jumped to 9.1 percent in August.
Inflation – Nagel targets further rate hikes – economy
