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27.05.2022

ECB's Governing Council member Nagel: ECB must make the first rates move in July

The European Central Bank's (ECB) Governing Council member Joachim Nagel said on Friday that in his view the ECB must make the first rates move in July, and more rate hikes should follow in the second half of the year. He adds that the ECB must send a clear signal about where it is going at its June policy meeting. 

The policymaker also acknowledged that inflation will not fall overnight, and it could take some time for it to ease.

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