Bundesbank President Nagel Indicates High Likelihood of ECB Rate Hike in September

Deutsche Bundesbank President Joachim Nagel stated that financial markets are pricing in over a 95% probability of an interest rate hike by the European Central Bank (ECB) at its upcoming September meeting. Nagel noted that eurozone inflation, at 2.9% in July and 3.3% in August, remains above the ECB's 2% medium-term target, complicating the central bank's situation amidst rising interest rates in financial markets.