ECB’s Nagel says interest rates may soon go up

FRANKFURT (Reuters) – Inflation in the euro zone is high and the European Central Bank may soon need to raise interest rates as a result, Bundesbank President Joachim Nagel told broadcaster ARD’s “plusminus” business magazine on Wednesday.

“What we are seeing at the moment suggests that savers may soon be able to look forward to higher interest rates again,” Nagel said, according to the transcript of the broadcast.

(Reporting by Balazs Koranyi; Editing by Chris Reese)