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MNI BRIEF: 50bp Hikes in Feb, March, Then We'll See - Nagel

(MNI) LONDON
(MNI) London

High core means two more strong hikes and possibility of further rate rises in Q2, Bundesbank chief says

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Strong interest rate rises in line with ECB president Christine Lagarde's December guidance will be necessary in February and March, Bundesbank president Joachim Nagel said in an interview published Wednesday [in German], with further hikes possible after that (MNI SOURCES: ECB Doves Eye Smaller Hikes As Inflation Falls).

“We will look at where the inflation rate is in the spring and what our experts' forecast looks like then," he said. "I wouldn't be surprised if we have to keep raising interest rates even after the two steps that have been announced. We are currently only at two percent for the currently most important key interest rate. And inflation, especially core inflation, is still very high,” he said.

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Strong interest rate rises in line with ECB president Christine Lagarde's December guidance will be necessary in February and March, Bundesbank president Joachim Nagel said in an interview published Wednesday [in German], with further hikes possible after that (MNI SOURCES: ECB Doves Eye Smaller Hikes As Inflation Falls).

“We will look at where the inflation rate is in the spring and what our experts' forecast looks like then," he said. "I wouldn't be surprised if we have to keep raising interest rates even after the two steps that have been announced. We are currently only at two percent for the currently most important key interest rate. And inflation, especially core inflation, is still very high,” he said.