ECB's Nagel: Central bank well-positioned for surging energy prices

European Central Bank (ECB) Governing Council member and Bundesbank President Joachim Nagel stated on Friday that the central bank is well-prepared to react to surging energy costs.

The remarks come as energy prices continue to pressure inflation across the euro area. Nagel’s comments suggest the ECB sees its current policy toolkit as sufficient to address the economic impact of higher energy costs.

No further details on potential policy measures were provided in the statement.