Inflation likely to stay ‘significantly above target,’ top European central banker warns

The Bundesbank president and European Central Bank official, Joachim Nagel, warned that inflation is likely to remain significantly above target in the eurozone, despite the end of the Iran conflict. Speaking to CNBC at an ECB conference in Portugal, Nagel cautioned that geopolitical relief alone won't solve Europe's sticky price pressures. The warning suggests the ECB may maintain higher interest rates for longer as it fights to restore price stability.

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