‘Way too early’ to declare victory over inflation, says ECB’s Nagel

Euro zone inflation will carry on declining in the months ahead but at a slower pace, Bundesbank President Joachim Nagel was quoted as telling Cypriot newspaper Kathimerini on Sunday. Euro zone inflation eased to 2.4% in November from 2.9% in October, well below expectations for a third straight month and fuelling market speculation that European Central Bank (ECB) rates could come down quicker than the bank now guides. "We have not yet won the fight against inflation," said Nagel, who visited Cyprus last week.