ECB's Nagel
ECB's Nagel is saying inflation is not retreating as we would like it to.
- He is confident a hard landing can be avoided
Earlier he said:
- We still have way to go with policy tightening
- Monetary policy signals are clearly pointing in the direction of further tightening
- Euro systems balance sheet should be significantly reduced in coming years
Nagel is generally more hawkish. The ECB is expected to raise rates in July. Lagarde last week said that the September meeting is data dependent.
The EURUSD is extending up toward its 100 hour moving average of 1.09095.
