ECB Nagel bundesbank

There are undoubtedly many economists at the Bundesbank fuming about where inflation is and where the ECB's main refi rate is.

  • German GDP seen netween 1.3%-1.5% in 2022
  • GDP seen flat In 2023
  • Expects 2023 German inflation of 6% or more

Some preliminary German government forecasts leaked earlier this week were worse than these numbers on GDP and inflation.