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5/6, 12:01 PM (Source: TeleTrader)
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Nagel: ECB running out of time to act

Deutsche Bundesbank President Joachim Nagel (pictured) warned on Friday, at a conference of the Frankfurter Allgemeine Zeitung, that the "window for the European Central Bank (ECB) to act is closing" referring to making a decision on the interest rates.

Nagel underscored that he does not "buy the argument that monetary policy should hold back because of the economic growth." He added that "the current inflation is too high" and that "the ECB must get on with normalizing policy."

The Deutsche Bundesbank president said he was optimistic about the move ECB will make and underlined that he does not think the economy will fall into recession, adding, however, that he does see a "much weaker growth rate."

Baha Breaking News (BBN) / AY