Joachim Nagel

Joachim Nagel became President of the Deutsche Bundesbank and member of the ECB Governing Council in January 2022, succeeding Jens Weidmann. He brings a combination of central banking and academic experience, having worked at the Bundesbank earlier in his career and subsequently at BIS and the Karlsruhe Institute of Technology. Nagel assumed the Bundesbank presidency at a pivotal moment — just as inflation in the eurozone surged to multi-decade highs following the post-pandemic supply disruptions and energy price shocks. He has been a consistent voice for rate increases and against premature rate cuts, embodying the traditional German focus on price stability. On the ECB Governing Council, he represents the hawkish pole alongside other northern European central bank governors, advocating for keeping interest rates sufficiently restrictive until inflation returns sustainably to the 2% target. Nagel is also an active participant in BIS committees and international regulatory bodies.