ECB's Nagel: Oil Supply Normalization Will Take Months, Inflation Remains High
ECB Governing Council member Joachim Nagel stated that it will take months for oil supply to return to normal and that there is no relief from high inflation in the foreseeable future, despite the US-Iran deal finalization.
EURUSD
Joachim Nagel, ECB Governing Council member and Bundesbank president, said on Monday that oil supply disruptions will take months to normalize. He added that high inflation appears unlikely to ease in the near term, even with the recent US-Iran agreement.
Nagel's comments suggest the ECB remains concerned about persistent price pressures, which could influence future monetary policy decisions.
Source: FXStreet Forex News