UK Markets closed
  • NIKKEI 225

    26,739.03
    +336.19 (+1.27%)
     
  • HANG SENG

    20,717.24
    +596.56 (+2.96%)
     
  • CRUDE OIL

    110.35
    +0.46 (+0.42%)
     
  • GOLD FUTURES

    1,845.10
    +3.90 (+0.21%)
     
  • DOW

    31,261.90
    +8.77 (+0.03%)
     
  • BTC-GBP

    23,544.29
    +108.41 (+0.46%)
     
  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     
  • Nasdaq

    11,354.62
    -33.88 (-0.30%)
     
  • ^FTAS

    4,083.84
    +44.90 (+1.11%)
     

German inflation to come in close to 7% this year, Bundesbank says

·1-min read
The skyline is seen as the sun goes down late in the afternoon in Frankfurt

FRANKFURT (Reuters) - Inflation in Germany will come in close to 7% this year, Bundesbank President Joachim Nagel said on Wednesday as he repeated his call for the European Central Bank to raise its main interest rate in July.

"The Bundesbank is now expecting the inflation rate in Germany to reach close to 7% in 2022," Nagel said in remarks prepared for a speech.

He reaffirmed his view that the ECB should end its stimulus programme at the end of June and increase its policy rate for the first time in over a decade the following month.

(Reporting By Francesco Canepa; Editing by Andrew Heavens)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting