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ECB Governing Council member Nagel is open-minded about the next two interest rate meetings.

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Golden Finance reported that on July 1, Joachim Nagel, a member of the European Central Bank’s Governing Council, said that against the backdrop of still-uncertain conditions in the Middle East and their impact on inflation, he is taking an open attitude toward what action needs to be taken at the next two policy meetings. Nagel, who is also President of the Deutsche Bundesbank, said that the decline in oil prices was “absolutely unexpected,” but he also warned that the persistence of this drop and the final outcome of the U.S.-Iran peace agreement remain to be seen. “I won’t speculate on future rate hikes,” Nagel said on Wednesday in Sintra, Portugal. He said, “For the July and September meetings, I will keep various options open,” and described it as “an open competition.” The European Central Bank is holding its annual meeting locally.
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