European Central Bank Executive Board member Nagel: Policymakers need to exercise restraint when discussing interest rate prospects.

Joachim Nagel, member of the ECB Executive Board and President of the German Central Bank, said that the uncertainty of the geopolitical situation makes it difficult for the European Central Bank to discuss future actions. "When it comes to monetary policy, we should be very cautious and avoid speculating about the next steps, which is why I believe that, in times of uncertainty, it is undoubtedly the best approach to make decisions at each meeting based on the data we have at that time." "We will meet again in July, just two weeks later. Then we have the meeting in September, when we will have new scenario analyses. Therefore, we really have to wait for developments and take this step-by-step meeting decision-making approach. I think that in the current very complex period driven by geopolitical events, this is the right way to formulate monetary policy." "We know what we have to do, we are committed to maintaining price stability, and we will fulfill our responsibilities." "Without price stability, achieving real economic growth will be much more difficult."