ECBs Nagel: Considers further rate hikes as inflation risk persist ...Middle East

The ECB is not yet satisfied with the recent developments in inflation.Further rate hikes remain a possibility as inflation risks are still on the upside.Longer-term inflation expectations continue to be significantly above the 2% target.Advocacy for a reduction in the ECB's balance sheet, which could be accelerated.It is currently too early to consider rate cuts.Meanwhile, the euro zone CPI data today was weaker than expected.Flash CPI 2.4% versus 2.7% expected and 2.9% last monthCore flash CPI 3.6% versus 3.9% expected and 4.2% last monthYes inflation remains above target but progress is being made to the downside This article was written by Greg Michalowski at www.forexli

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ECBs Nagel: Considers further rate hikes as inflation risk persist ...Middle East

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