Inflation likely to stay ‘significantly above target,’ top European central banker warns
Joachim Nagel, president of Germany’s Bundesbank, spoke to CNBC on the sidelines of an ECB conference in Portugal.
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Inflation is at risk of remaining above target despite the U.S. and Iran agreeing to end their war in the Middle East, a top European central banker warned on Tuesday. Speaking to CNBC's Annette Weisbach on the sidelines of the European Central Bank's Forum on Central Banking in Sintra, Portugal, Bundesbank President Joachim Nagel said there is a probability inflation "will stay at an elevated level.""The energy price shock… is still in the system. I suspect the inflation rate will stay significantly above our target," he said. This is a developing story. Please refresh page for updates.
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