110 Days
Source:
Sky News
German Central Bank Chief on Inflation
The head of the German Central Bank, Joachim Nagel, expressed the need to maintain the current monetary policy stance despite the decline in oil prices, emphasizing that inflation remains too high. He pointed out that the drop in oil prices from around $120 to $73 per barrel has not changed inflation expectations, stressing the importance of not modifying the overall inflation outlook based on temporary fluctuations. He also explained that removing the fuel tax discount in Germany will lead to a temporary rise in inflation, even though it had been a factor in curbing rising prices recently. Inflation in the Eurozone exceeded 3.2% in May, but decreased in June to 2.3% in Germany and 2.8% across the entire region, with the possibility of rate hikes still on the table as the central bank monitors price developments and inflation pressures.
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