Energy Markets
Nagel: ECB is well-positioned to deal with energy price shock.
Joachim Nagel, Bundesbank president, said that the European Central Bank is in a strong position to respond to rising energy prices and should consider incoming data before deciding on whether or not to increase interest rates in September. The ECB kept rates the same on Thursday, but 'offered strong hints that a rate hike is 'likely in September since oil prices have returned to around $100 a barrel and natural gas prices also surged. Nagel stated in a press release that "the rate hike in June has already put us in a good position to monitor future developments." He added,...