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Bundesbank President Joachim Nagel told CNBC that inflation in the eurozone is likely to remain "significantly above target," delivering a pointed cautionary signal to rate-sensitive portfolios on the sidelines of a European Central Bank conference in Portugal.
The warning, from one of the ECB's most influential governing council members, reinforces a higher-for-longer rate posture at a moment when some investors had begun pricing in a more accommodative path.
What Nagel Said — and Why It Matters Speaking at the ECB's Portugal conference, Nagel declined to offer reassurance that the disinflationary process is running ahead of schedule.
His phrasing — "significantly above target" — carries deliberate weight.
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