Hawkish message underlines ECB chief’s warning not to expect rates to drop quickly
Joachim Nagel
Makhlouf adds voice to growing clamour for July ECB rate hike
Frankfurt is expected to start sequence of rate increases to stop high inflation becoming entrenched
Nagel replaces Jens Weidmann, who quit five years early after a decade of opposition to ECB policy
SPD-led coalition promises ‘decade of investment’ but fails to explain who will pay for it
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