Nagel says a December ECB rate hike is likely

The European Central Bank is moving toward an interest rate increase in December, according to Bundesbank President Joachim Nagel, a member of the ECB Governing Council. Speaking in Berlin, he said current estimates suggest a hike would “most likely be necessary.”

Nagel said an increase would be difficult to avoid unless the inflation outlook improves significantly. The Governing Council is scheduled to hold its next monetary policy meeting on December 17.

Sources: ANSA Economia.