Nagel Favors ECB June Hike Unless Outlook Improves Markedly

The European Central Bank will need to increase interest rates in June if there isn’t a significant change in the outlook, according to Bundesbank President Joachim Nagel.

“From today’s perspective, the situation is evolving less favorably than in the earlier baseline scenario,” he said in emailed comments on Friday. “This makes it all the more appropriate for the Governing Council to respond in June if the outlook does not improve markedly.”