The European Central Bank may need to raise interest rates further to a level that slightly restricts economic activity, ECB policymaker Joachim Nagel said on Friday.
Nagel, who is also president of Germany’s Bundesbank, made the comments in an interview with CNBC.
He said the ECB’s future interest-rate decisions will depend on developments in energy prices.
Nagel added that it was too early to predict specific monetary policy decisions, leaving the outlook dependent on incoming economic conditions.
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