(Bloomberg) -- Bundesbank President Joachim Nagel said the European Central Bank isn’t done raising interest rates, according to an interview in the Financial Times.

“There’s still some way to go, but we are approaching restrictive territory,” said Nagel. 

He also told the FT that once the ECB stopped hiking it would then have to resist calls to cut rates as doing so would enable “inflation to flare up again.”

“There’s certainly no mistaking that price pressures are strong and broad-based across the economy,” he said. “If we are to tame this stubborn inflation, we will have to be even more stubborn.”







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