ECB governing council member and Bundesbank president Nagel said keeping key rates unchanged was the right decision and that June’s hike has left the bank in a favourable position. He said the September meeting will provide new data and forecasts to reassess the inflation outlook, reiterated substantial uncertainty and stressed the ECB will not pre-commit to future moves.

2026-07-24

ECB governing council member and Bundesbank president Nagel said keeping key rates unchanged was the right decision and that June’s hike has left the bank in a favourable position. He said the September meeting will provide new data and forecasts to reassess the inflation outlook, reiterated substantial uncertainty and stressed the ECB will not pre-commit to future moves.