ECB's Nagel: latest rate hike won't be the last

The European Central Bank's latest interest rate hike won't be the last as it needs to ensure the current wave of inflation comes to an end, said ECB policymaker Joachim Nagel on Friday. Speaking on the sidelines of a Group of Seven (G7) meeting in Japan, Nagel said current data did not indicate that the ECB should change its thinking on the need for further rate hikes.

"We need to be sure that the latest inflation wave ends," said the head of the German central bank.