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ECB’s Nagel expects imminent return of inflation in Europe to its target level
According to statements by Joachim Nagel, a member of the Governing Council of the European Central Bank (ECB), the region is close to achieving the target inflation rate of 2%. However, he noted that current global market uncertainty makes it impossible to predict further changes.
Bloomberg experts expect the ECB to cut borrowing costs on June 5 due to slowing inflation in the region and ongoing trade tensions with the United States.
At the same time, the eurozone economy showed growth of 0.3% at the beginning of this year. In April, price growth was held at 2.2%. According to the European Commission’s estimates, inflation is expected to be 1.7% next year.
The next ECB meeting will take place in June, after which the financial regulator will present updated forecasts on the current economic situation.
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