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    Home > Headlines > ECB's Nagel calls for caution as rates are no longer a drag
    Headlines

    ECB's Nagel calls for caution as rates are no longer a drag

    Published by Global Banking & Finance Review®

    Posted on May 22, 2025

    1 min read

    Last updated: January 23, 2026

    ECB's Nagel calls for caution as rates are no longer a drag - Headlines news and analysis from Global Banking & Finance Review
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    Tags:monetary policyinterest rateseconomic growthEuropean Central Bank

    Quick Summary

    ECB's Joachim Nagel advises caution in monetary policy as euro zone borrowing costs no longer hinder growth, with deposit rates at 2.25%.

    ECB's Nagel calls for caution as rates are no longer a drag

    BANFF, Alberta (Reuters) -Borrowing costs in the euro zone are no longer acting as a drag on economic growth, European Central Bank policymaker Joachim Nagel said on Thursday, calling for caution in future monetary policy decisions.

    "After seven interest rate cuts, our deposit rate stands at 2.25%, a level that can certainly no longer be described as restrictive," the Bundesbank's president told reporters on the sidelines of a G7 meeting in Canada.

    "Given the continuing high level of uncertainty, we should therefore remain cautious in monetary policy."

    (Reporting By Christian Kraemer; Writing by Francesco Canepa in Frankfurt; Editing by Kirsten Donovan)

    Key Takeaways

    • •ECB's Nagel suggests caution in future monetary policy.
    • •Euro zone borrowing costs no longer restrict growth.
    • •Deposit rate stands at 2.25% after seven cuts.
    • •High uncertainty persists in the economic outlook.
    • •Nagel spoke at a G7 meeting in Canada.

    Frequently Asked Questions about ECB's Nagel calls for caution as rates are no longer a drag

    1What did ECB's Nagel say about borrowing costs?

    Nagel stated that borrowing costs in the euro zone are no longer acting as a drag on economic growth.

    2What is the current deposit rate according to Nagel?

    The current deposit rate stands at 2.25%, which Nagel believes can no longer be described as restrictive.

    3What caution did Nagel advise regarding monetary policy?

    He advised that given the continuing high level of uncertainty, caution should be maintained in monetary policy.

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