ECB’s Nagel Indicates Continued Comfort with Current Interest Rates

10 October 2025

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Friday suggested that a significant change in the policy environment would be needed for the ECB to move interest rates.

“The bar is rather high” for changing his view that the ECB’s monetary policy stance is appropriate as it is, said Nagel, who heads the Deutsche Bundesbank, in an interview with the New York Times.

The newspaper reported that he was relaxed about the euro’s appreciation. “I will not say it’s not relevant,” he said. “We have to look at it. But this is not a big issue.”

The attacks on the independence of the US Federal Reserve were “unfair” and made watching policymakers “nervous,” he was quoted as saying.