Bundesbank President Joachim Nagel said the European Central Bank is near peak for its borrowing costs, though another bout of inflation may require more tightening. “I do believe we are close to that level we see as the terminal rate,” Germany’s top monetary policy official told students in Milan on Wednesday. “I think rates will stay where they are for a while.” A record run of ECB interest-rate aggression has led most observers to predict policymakers won’t raise borrowing costs again. Officials stayed on hold in October and President Christine Lagarde said earlier this month a reduction won’t happen in the “next ... (full story)