Current and future monetary policy challenges facing the Eurosystem
23 June 2025 · Joachim Nagel , President of the Deutsche Bundesbank (Germany)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates
JN 23 Jun 2025 · Joachim Nagel Wiki · Deutsche Bundesbank Wiki Current and future monetary policy challenges facing the Eurosystem Context Text of the 20th Walter Eucken Lecture by Joachim Nagel, President of the Deutsche Bundesbank, at the Walter Eucken Institute, University of Freiburg, Freiburg, 23 June 2025.
Why it matters The Bundesbank president warns against relying on the natural interest rate when setting euro area policy.
Problems raised Rapid rate hikes created balance sheet risks. The natural rate of interest is very uncertain. The future is hard to foresee. Solutions proposed Avoid basing decisions only on the natural rate. Stay humble about forecasts. Base future operations on sound principles. Read full speech on bis.org ↗ More from Joachim Nagel · Deutsche Bundesbank · all speeches
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