European Central Bank Governing Council member Nagel remains open-minded about the next two policy meetings

Jinse Finance reported that on July 1st, Joachim Nagel, a member of the European Central Bank executive board, stated that, in the context of ongoing uncertainty surrounding the Middle East situation and its impact on inflation, he remains open-minded about what actions should be taken at the next two rate-setting meetings. Nagel, who is also the President of the German Bundesbank, commented that the recent drop in oil prices was "absolutely unexpected," but cautioned that the sustainability of this decline and the eventual outcome of the US-Iran peace agreement still need to be observed. "I won't speculate about future rate increases," Nagel said Wednesday in Sintra, Portugal. "For the July and September meetings, I will keep all options open," describing it as "an open competition." The European Central Bank is holding its annual meeting there.