European Central Bank board member Nagel: Interest rates are at a "very good level" allowing the central bank to respond flexibly to shocks.

Member of the Governing Council of the European Central Bank, Joachim Nagel, stated that due to the ongoing trade tensions, borrowing costs in the Eurozone are currently at an appropriate level, allowing the ECB to be prepared to address further shocks when necessary. "Key interest rates are at a very good level," the Bundesbank president said in a statement sent via email on Tuesday, "Based on this, we can observe how the economy develops. If necessary, we can react flexibly." With consumer prices rising 2% year-on-year for the past two months, Nagel stated: "Currently, we can remove inflation from the main challenges list."