German ECB Governing Council member Joachim Nagel remarked today that with inflation nearing 2% on average this year, ECB is “more or less mission accomplished” on the price stability front. He added that rates are now in “neutral territory,” and monetary policy is “on the right track.
At the same conference, Vice President Luis de Guindos reiterated that the path forward will be data-dependent and decided on a meeting-by-meeting basis. He warned of elevated geopolitical risks, including trade tensions and Middle East conflict, which could alter both inflation and economic outlook.
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