FRANKFURT (Reuters) – Friday’s unexpectedly weak survey on the well being of the German financial system merely affirm the nation’s predicament and dialogue on the potential dimension of the following ECB rate of interest reduce wants to attend, Bundesbank chief Joachim Nagel stated on Friday.
“They’re kind of confirming the general image that the German financial system is stagnating this yr, and the beginning subsequent yr will likely be difficult for certain,” Nagel stated about contemporary PMI information.
He added that new financial projections from the ECB due simply earlier than the Dec. 12 coverage assembly will likely be essential in deciding coverage, so the dialogue abut the precise transfer ought to wait, even when it was clear that extra price cuts are coming over the following yr.
