APRIL 15, 2026 AT 03:31 PM
ECB's Nagel says there is not enough clarity about what happens in April, we need optionality; says question about Strait of Hormuz is essential, two weeks can bring a lot of new information
Importance
Level 1
- Situation developed a little bit better over the course of last week.
- Inflation expectations are well anchored, but this could still change.
- There is no pre-commitment.
- Somewhere in between baseline and adverse scenario.
- Asked about if ECB will hike next, says he will not exclude one or the other.
- He needs more information.
- We need some time.
- As long as situation in middle east and Strait of Hormuz is not resolved, the danger increases they see an inflation push.
- Appreciates optimism in equity markets.
- ECB should be vigilant and cautious and look at all information.
- Asked about pain threshold for inflation, does not give concrete answer, says ECB will deliver on price stability.