ECB Governing Council member Nagel: If energy prices remain elevated, it may be necessary to raise interest rates to a mildly restrictive level.

Zhito Finance APP has learned that European Central Bank Governing Council member and Bundesbank President Joachim Nagel stated that if energy prices remain persistently high, the European Central Bank may have to raise interest rates to a level that suppresses economic growth. Nagel said on Tuesday: "If we face high energy prices like the current ones for a long time, I cannot rule out the possibility that we will have to enter a mildly restrictive range of monetary policy." He added, however, that it is still too early to judge this.