European Central Bank Governing Council member Joachim Nagel said additional measures are needed to curb rising expectations of future prices and return inflation to the 2% goal. “Our monthly surveys of firms and households are showing a significant increase in long-term inflation expectations,” Nagel said in an interview with the Zeitschrift für das gesamte Kreditwesen published on the Bundesbank website on Monday. “I firmly believe that we need to take further monetary policy action to halt and reverse this trend.” The ECB raised interest rates by 250 basis-points last year and officials have said more hikes are to ... (full story)