· Joachim Nagel Wiki · Deutsche Bundesbank WikiMonetary policy in times of geopolitical crises and high inflation
Read full speech on bis.org ↗ContextSpeech at the European School of Management and Technology in Berlin; the Bundesbank is Germany's central bank within the euro system and faces high inflation and war.
Why it mattersNagel argues for stronger responses when inflation persists.
Problems raised
- Geopolitical crises and high inflation coincide.
- Entrenched inflation requires stronger responses.
- Expectations may de-anchor.
Solutions proposed
- Respond decisively to persistent inflation.
- Act more strongly when inflation deviates.
- Keep expectations anchored.