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Bundesbank’s Nagel calls for rates hikes starting from July -Spiegel


© Reuters. FILE PHOTO: Bundesbank President Joachim Nagel addresses a news conference after the G7 Summit in Koenigswinter, near Bonn, Germany May 20, 2022. REUTERS/Benjamin Westhoff

BERLIN (Reuters) – The European Central Bank should raise interest rates several times this year, starting in July, ECB policymaker and Bundesbank President Joachim Nagel said in an interview with Der Spiegel published on Friday.

“In our June meeting we must send a clear signal where we’re going,” Nagel told the weekly. “From my current perspective, we must then make the first rates move in July and have others follow in the second half of the year.”

Nagel’s views are in line with ECB President Christine Lagarde’s comments that rates need to rise in July and September.

Bundesbank’s Nagel calls for rates hikes starting from July -Spiegel

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