Oil Prices Crucial for ECB Rates Says Bundesbank Chief
Bundesbank President Joachim Nagel stated that oil prices are increasingly important for European Central Bank policymakers when determining interest rates. While energy costs remain a key factor, Nagel noted that the central bank continues to evaluate economic conditions meeting by meeting.
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Germany's central bank chief said surging Brent Crude Oil prices are an increasingly critical factor for borrowing costs. The remarks follow higher energy costs that drove markets to price in three or four rate hikes over the next year.
