ECB’s Nagel: The next ECB meetings must send out clear signals on reacting to inflation

There are undoubtedly many economists at the Bundesbank fuming about where inflation is and where the ECB’s main refi rate is.

• German GDP seen netween 1.3%-1.5% in 2022
• GDP seen flat In 2023
• Expects 2023 German inflation of 6% or more

Some preliminary German government forecasts leaked earlier this week were worse than these numbers on GDP and inflation.