On March 29th, European Central Bank Managing Director Joachim Nagel stated that although the latest inflation data shows positive signs, central bank officials should not be overly confident in achieving inflation targets. The German central bank governor stated during a group discussion in Frankfurt that although inflation seems likely to return to the 2% target this year, policymakers must remain cautious, especially in the face of high uncertainty. He made the above remarks hours after France and Spain released lower than expected inflation data for March, triggering expectations of a slowdown in overall price increases in the eurozone. The European Statistical Office will release preliminary estimates next Tuesday. I have seen encouraging latest inflation data from individual countries, “Nagel said on Friday. But usually when the target is within reach, you tend to become overly optimistic. I almost want to warn you about this
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