Bundesbank raises inflation forecast

Nagel calls for policy normalisation and says Bundesbank could increase risk provisioning again

Joachim Nagel
Joachim Nagel
Photo: Deutsche Bundesbank/Nils Thies/Flickr

The Deutsche Bundesbank increased its inflation forecast for 2022 from 4.5% to 5%, and its president Joachim Nagel warned that it could rise even higher.

Nagel called again for the European Central Bank to start normalising monetary policy as he announced the Bundesbank’s annual results on March 2. He said the Bundesbank had increased its risk provisions in 2021, before Russia’s invasion of Ukraine. and was likely to do so again this year. Nagel said on March 2 it was not yet possible to assess

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