[ECB Governing Council Member Nagel: December Rate Hike Likely Unless Inflation Outlook Improves Significantly] According to Jinshi Data on November 4th, European Central Bank (ECB) Governing Council member and Bundesbank President Nagel stated that the recurring rise in energy prices has exacerbated inflation risks, potentially leading to further price increases in other goods and wages, pushing inflation higher. The ECB's September baseline forecast already considered further rate hikes, but the inflation outlook has since deteriorated further. Nagel said that unless the inflation outlook improves significantly, a December rate hike is likely unavoidable, and the decision will be based on the latest economic forecasts. Eurozone inflation is projected to reach 4% in September, double the ECB's 2% target; core inflation is expected to remain at 2.5%. The ECB paused rate hikes last week, but Nagel emphasized that there has been no significant second-round inflation effect yet.