Nagel Sees Global Economy on Growth Path Despite Middle East Crisis

European Central Bank (ECB) Governing Council member and Bundesbank President Joachim Nagel expressed confidence in the global economic outlook, despite geopolitical tensions in the Middle East. According to Reuters, Nagel stated that the global economy remains 'on a growth path' and welcomed the easing of core and services inflation.

Nagel also commented on recent foreign exchange interventions involving the Japanese Yen (JPY), saying he would have welcomed coordination on these interventions. He noted that the use of the Euro (EUR) in US and Japanese interventions was discussed at the Group of Twenty (G20) meeting.