ECB’s Nagel: I Am Confident About Inflation, But We Should Not Be Complacent

18 October 2025

By Marta Vilar – WASHINGTON (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Saturday that he was “confident” about inflation and that the ECB should not be complacent.

In an event hosted by DZ Bank in Washington, Nagel, who heads the Deutsche Bundesbank, said that inflation was now at 2.2%, which was “pretty much on our target for the next years, so I am rather confident.”

He warned against complacency even as “the inflation story looks good.”

Nagel said that US President Donald Trump seemed to be changing his mind about China, but was skeptical: “We will see how long that will last.”

He said he felt that the US had “a masterplan” and that the Trump administration would do anything to achieve its objectives.

“This is the starting point,” he said. “Over the next years I see more bumpy roads and rough waters, and we have to prepare ourselves. “