Exclusive News Reporting and Insights on Central Banks and Debt Issuers

Top Stories

ECB’s Nagel Less Concerned About Wages, Warns of Second-Round Risks

ECB’s Nagel Less Concerned About Wages, Warns of Second-Round Risks

By Marta Vilar – LONDON (Econostream) – European Central Bank Governing Council member Joachim Nagel said Tuesday he was “not so concerned” about a strong wage response to the current inflation shock, as seen during the previous inflationary episode, but cautioned that the longer the shock persisted, the greater the risk was of second-round effects.

22 September 2026

ECB Tone Meter

Entire Governing Council

27 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 22 September 2026

Meeting Bias

ECB Governing Council Meeting