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German inflation to come in close to 7% this year, Bundesbank says
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FRANKFURT (Reuters) – Inflation in Germany will come in close to 7% this year, Bundesbank President Joachim Nagel said on Wednesday as he repeated his call for the European Central Bank to raise its main interest rate in July.
FRANKFURT (Reuters) – Inflation in Germany will come in close to 7% this year, Bundesbank President Joachim Nagel said on Wednesday as he repeated his call for the European Central Bank to raise its main interest rate in July.
“The Bundesbank is now expecting the inflation rate in Germany to reach close to 7% in 2022,” Nagel said in remarks prepared for a speech.
He reaffirmed his view that the ECB should end its stimulus programme at the end of June and increase its policy rate for the first time in over a decade the following month.
(Reporting By Francesco Canepa; Editing by Andrew Heavens)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured annually and can affect economic stability.
The European Central Bank (ECB) is the central bank for the euro and is responsible for monetary policy within the Eurozone, aiming to maintain price stability and manage inflation.
Interest rates are the cost of borrowing money or the return on savings, expressed as a percentage. They are influenced by central bank policies and can affect economic activity.
Monetary policy refers to the actions taken by a central bank to control the money supply and interest rates to achieve macroeconomic objectives like controlling inflation and stabilizing currency.
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