[Bundesbank President Nagel Says ECB Has No Need to Adjust Rates in the Short Term] ECB Governing Council member Joachim Nagel stated that the central bank currently has no reason to adjust borrowing costs in the short term but needs to remain open-minded. In a joint interview published on Tuesday with Austrian National Bank Governor Martin Kocher, the Bundesbank President said, 'From the current perspective, the key interest rates are indeed at an appropriate level to ensure price stability in the medium term.' Nagel said, 'ECB Chief Economist Philip Lane recently stated that he sees no sufficient reason to adjust rates in either direction at the moment. I fully agree with this.' At the same time, he emphasized that it is difficult to make long-term predictions because 'we know from experience that there are always situations that require reclassification.' (Cailian Press)