European Central Bank must resist urge to cut interest rates prematurely, says Nagel

The European Central Bank must resist any temptation to cut interest rates too soon, as the hardest part of fighting high inflation may still lie ahead. This was stated by the president of the German Bundesbank and member of the Governing Council of the ECB Joachim Nagel in a speech in Milan on Thursday, according to Reuters. The ECB interrupted a series of ten consecutive interest rate hikes last month, hinting at a stable policy. It has sparke…