---
title: "European Central Bank Governing Council Member Nagel: The economic outlook for the eurozone remains unchanged, but all options will be retained for the December meeting"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/263949815.md"
description: "European Central Bank Governing Council member Nagel stated that the economic outlook for the eurozone remains unchanged, and policymakers will keep all options available. Despite economic data aligning with the central bank's projections, Nagel emphasized that it is appropriate to maintain flexibility in the face of uncertainty. The eurozone's CPI is expected to rise by 1.7% next year, with GDP growth of 1.2%. After eight rate hikes, the European Central Bank kept interest rates unchanged, and President Lagarde reiterated that necessary measures will be taken to maintain favorable economic conditions"
datetime: "2025-11-03T06:43:35.000Z"
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  - [en](https://longbridge.com/en/news/263949815.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/263949815.md)
---

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# European Central Bank Governing Council Member Nagel: The economic outlook for the eurozone remains unchanged, but all options will be retained for the December meeting

According to the Zhitong Finance APP, Joachim Nagel, a member of the European Central Bank's Governing Council and President of the Deutsche Bundesbank, stated that the economic data from the Eurozone is consistent with the central bank's outlook, but policymakers are still keeping all options open.

Nagel said on Monday that there is "absolutely no reason" to adjust borrowing costs as the European Central Bank maintained the deposit rate at 2% for the third consecutive meeting last week. He stated, "Since the latest economic forecast was released in September, there has been no fundamental change in the data. In December, we will make decisions based on new forecasts at the meeting based on the data. Therefore, we keep all options open, and I believe this is the most appropriate approach in the face of many uncertainties."

It is reported that the quarterly economic forecast released by the European Central Bank in September showed that the consumer price index (CPI) in the Eurozone is expected to rise by 1.7% next year, closer to the target than the previous forecast of 1.6%; however, by 2027, the inflation rate is expected to be 1.9%, lower than previously anticipated. In terms of economic growth, the Eurozone's GDP is expected to grow by 1.2% this year, with a growth rate of 1% expected in 2026.

After raising interest rates eight times in a row within a year, the European Central Bank maintained interest rates last week as expected, remaining unchanged since June. ECB President Christine Lagarde reiterated that the European Central Bank is in a "favorable position" and emphasized that it will take all necessary measures to maintain this favorable situation.

Although the inflation rate hovers around the 2% target, the resilience shown by the Eurozone economy has exceeded expectations in the face of U.S. tariffs and geopolitical tensions. The Eurozone's 0.2% economic growth in the third quarter exceeded expectations, and the better-than-expected October Purchasing Managers' Index (PMI) also indicates a good start for the last three months of 2025. However, some dovish policymakers are concerned that economic growth may fall short of expectations, which would increase the risk of inflation remaining below the 2% target for an extended period.

Additionally, in commenting on the German economy, Nagel praised its resilience and stated that Germany can now "embark on a path of moderate growth," with increased infrastructure and defense spending boosting this trend. He said, "Next year, we will undoubtedly see stronger growth. If future investment spending is properly guided, this fragile seedling can thrive, and economic development will gain stronger momentum."

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