The ECB’s Nagel doesn’t see a wage price spiral, but wants more tightening

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There is no sign of a “wage price spiral” in the eurozone, but the European Central Bank should continue to tighten monetary policy to curb inflation expectations, ECB economic policy chief Joachim Nagel said in an interview published on Monday.

“We are not seeing any wage price spiral in the sense of a further increase in the inflation rate due to the current wage arrangements,” the Bundesbank president told German magazine Zeitschrift für das gesamte Kreditwesen.

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