ECB’s Nagel: Interest rates are close to the their peak

Market news

22 November 2023

ECB’s Nagel: Interest rates are close to the their peak

Bundesbank President Joachim Nagel said on Wednesday that interest rates in the Eurozone are close to their peak. He explained that economic data will determine whether more tightening is needed.

Regarding inflation, Nigel mentioned it is on track to move towards the ECB target while speaking at an even in Milan.

Market reaction

The EUR/USD is falling on Wednesday; it trimmed losses during the last two hours, rising from near 1.0850 to 1.0880.

US Dollar advances amid resilient US labor market

Gold Price Analysis: XAU/USD continues to wrestle with $2,000

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