- ECB Governing Council member Joachim Nagel said the central bank needs to raise interest rates to a level that holds back economic growth.
- Nagel's comments signal a hawkish ECB policy stance, supporting higher euro-area yields and pressuring rate-sensitive assets.
Quotes
“The European Central Bank may have to raise interest rates to a level at which they hold back economic growth, according to Governing Council member Joachim Nagel.”