Joachim Nagel, president of Deutsche Bundesbank, is warming to the possibility of European interest rate cuts starting in June. But he warned against expectations that a series of monetary easing moves is under way. Speaking at the DZ BANK Capital Market Conference in Berlin, held in co-operation with OMFIF and German state project financing bank KfW, Nagel said he was still ‘not fully convinced’ that inflation was returning to the European Central Bank’s 2% target in a ‘timely and sustained manner’. However, assuming that monetary easing is backed by wage inflation and other data available in the next few weeks, he ... (full story)