- ECB’s Nagel: Inflation risks are tilted to the upside
Market news
16 June 2023
ECB’s Nagel: Inflation risks are tilted to the upside
European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel is speaking at a panel discussion titled "The Macroeconomic Outlook: Growth, Inflation and Risks" at an event hosted by the Group of Thirty, in Amsterdam.
Key quotes
“German economy to shrink by 0.3% in 2023, expand by 1.2% in 2024 and 1.3% in 2025.”
“German inflation seen at 6.0% in 2023, 3.1% in 2024 and 2.7% in 2025.”
“Decisive monetary policy action is key to counteracting risks of more persistent inflation.“
“Economy is set to recover only arduously but inflation at last is easing.”
“Inflation risks are tilted to the upside.”
Market reaction
EUR/USD was last seen trading at 1.0950, up 0.04% on the day.
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