Joachim Nagel News

Despite limited awareness and understanding, half of the German respondents have expressed openness to using the digital euro as an additional payment option.

The digital euro will likely not launch until 2028 or 2029, Germany’s central bank president, Dr. Joachim Nagel, said on Wednesday.

Gold prices edged lower on Wednesday, as fears of an escalation in the Middle East conflict eased, while investors waited for crucial U.S. economic data that could shed more light on the timing of interest rate cuts.

Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the entirety of its provisions to break even.

Investing.com — European stock markets fell sharply Wednesday on increased uncertainty over the likelihood of early interest rate cuts as well as disappointing Chinese growth data. 

Investing.com — European stock markets fell Tuesday on concerns that interest rates will remain high for longer than expected, while the annual World Economic Forum in Davos continued. 

By Ankur Banerjee

By Tom Westbrook

NICOSIA (Reuters) — Euro zone inflation will carry on declining in the months ahead but at a slower pace, Bundesbank President Joachim Nagel was quoted as telling Cypriot newspaper Kathimerini on Sunday.

Investing.com — European stock markets traded in a mixed fashion Wednesday, with investors struggling to build momentum ahead of the week’s key inflation data. 

By Shristi Achar A

MILAN (Reuters) — Euro zone interest rates are close to their peak in the current cycle or may have already reached it, European Central Bank Governing Council member Joachim Nagel said on Wednesday, adding data would determine whether they needed to rise further.

euro was near a 15-year high on the yen and was firm against the dollar on Thursday, following hawkish remarks from European policymakers and the prospect of falling energy prices. At $1.0703 the common currency withstood a rising greenback after the European Central Bank's chief economist said he had not seen enough progress in taming inflation. Overnight, the euro touched its highest since 2008 at 161.73 yen, having broken out since the Bank of Japan left short-term rates on hold last week as investors see the pair as safer than navigating the risk of an intervention in dollar/yen. The euro is also up 0.5% this week to 87.14 pence. Ireland's central bank chief Gabriel Makhlouf said on Wednesday further interest rate hikes should not be excluded, something markets do not expect at all, while Bundesbank President Joachim Nagel said the «late mile» to the inflation target may be the toughest. «While the market has been focusing on the prospects of rate cuts from (G10 central banks) next year, many of the respective central bankers have been pushing back against this speculation,» said Rabobank senior strategist Jane Foley. «As long as inflation remains above target, policy makers are likely to want to keep alive the risk of further tightening particularly since a significant drop in market rates could worsen inflationary risks.» The unloved yen failed to get much of a boost from a fall in U.S.

FRANKFURT (Reuters) — Euro zone inflation is falling but the fight is not yet won and the high rate of underlying price growth remains worrisome, Bundesbank President Joachim Nagel said on Thursday.

FRANKFURT (Reuters) -Euro zone inflation is stubbornly high with upside risks, so the European Central Bank's next move could still be a rate increase before cuts come onto the agenda, several policymakers said on Thursday.

Investing.com — European stock markets edged higher Monday, continuing last week's positive sentiment while investors digest mixed regional manufacturing data.

Investing.com — The U.S. dollar edged higher in early European trade Monday, partially recovering after Friday’s losses in the wake of softer-than-expected inflation data as a holiday-shortened week gets underway.

FRANKFURT—A longtime Bundesbank official with a record as an inflation hawk has been appointed as Germany’s new central-bank governor, just as the European Central Bank moves away from its ultra-easy-money policies amid a surge in eurozone inflation.