ECB’s Nagel Calls for Steady Hand Amid Trade Uncertainty

BERLIN (Reuters) – European Central Bank policymaker Joachim Nagel emphasized the need for a “steady hand” in navigating the uncertainty caused by U.S. President Donald Trump’s recent tariff threat, during an interview with the business daily Handelsblatt.

Nagel stated, “Politics with a steady hand” is essential for monetary policy at this moment. The interview was published late on Tuesday.

He remarked on the “extremely uncertain” effects on prices stemming from both geopolitical tensions and the ongoing trade conflict with the U.S.

Following its June meeting, the ECB indicated it was likely to maintain current interest rates when it convenes again next week.

Furthermore, five ECB policymakers conveyed to Reuters that Trump’s proposed 30% tariff on EU imports is complicating the central bank’s decision-making process, though it is not expected to derail their plans.