European Central Bank committee member Nagel: No need to worry even if Eurozone inflation rate temporarily falls below 2%

Member of the European Central Bank's Governing Council, Joachim Nagel, stated that if the inflation rate in the Eurozone temporarily falls below 2%, there is no need to worry, and the ECB can postpone further rate adjustments. "The strategic review once again emphasizes the symmetry of our inflation target," the head of the German Central Bank said in an interview with the Frankfurt report. "If the inflation rate in the Eurozone temporarily drops below 2%, we should not be concerned." Nagel reportedly maintains a cautious stance on calls for another interest rate cut as early as this month. "I am skeptical about calls for further aggressive action at the moment," he said. "I don't see any reason to do so when inflation reaches 2%."