Nagel (ECB): Open to the possibility of another interest rate reduction in October

Bundesbank head, Joachim Nagel, said he is willing to talk about a reduction in their decision by the European Central Bank ( ) next week. “I want to wait until the meeting, but I am certainly open to considering taking another step at the interest rate,” Bloomberg said. Nagel is considered one of the most aggressive members of the Governing Council of the ECB, so his willingness to discuss a move at the monetary policy meeting on 16-17 October makes it even more likely to reduce lending costs. Markets and economists were already betting on such a step. “The latest figures were very encouraging – we are clearly approaching our 2% target,” he said about euro area inflation, which in September fell below the ECB target for the first time since 2021. “Inflation trend is certainly a good news”. However, “the core of inflation is still proving a little stronger,” Nagel said.