Euro zone inflation going in right direction, says ECB's Nagel
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FILE PHOTO: Joachim Nagel, Bundesbank president and European Central Bank policymaker, prepares for an interview at the Jackson Lake Lodge in Jackson Hole, Wyoming, where the Kansas City Fed holds its annual economic symposium, August 24, 2023. REUTERS/An
FRANKFURT (Reuters) - Inflation in the euro zone, including a core measure that strips out volatile prices, is going in the right direction, European Central Bank policymaker Joachim Nagel said on Friday as he backed the ECB's latest rate cut.
"We assume that core inflation will improve, especially with the declining wage trend in the euro zone," he told German radio Deutschlandfunk. "Here, too, things are moving in the right direction."
(Reporting by Francesco Canepa; Editing by Christopher Cushing)
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