(The second sentence clarifies that this is the Wednesday edition.)DÜSSELDORF/FRANKFURT - Bundesbank President Joachim Nagel has indicated a pause in interest rates before the next meeting of the European Central Bank (ECB).

(The second sentence clarifies that this is the Wednesday edition.)

DÜSSELDORF/FRANKFURT (dpa-AFX) - Bundesbank President Joachim Nagel has hinted at a pause in interest rates ahead of the next meeting of the European Central Bank (ECB). From a monetary policy perspective, "a steady hand is needed at the moment," Nagel told the "Handelsblatt" newspaper (Wednesday edition). According to the ECB Council member, the impact of geopolitical uncertainties and the consequences of the trade conflict with the US on price developments is "extremely uncertain." The ECB will decide on interest rates next week. Recently, several ECB members, including German Executive Board member Isabel Schnabel, have indicated a pause in interest rates.

Since last summer, the central bankers have lowered key interest rates in eight steps, most recently setting the deposit rate, which is the benchmark for the market, at 2.0 percent. The inflation rate in the euro area was 2.0 percent in June, the level targeted by the central bank.

"Tariff uncertainty is putting a strain on the financial markets and harming economic development," Nagel is quoted as saying in the newspaper report. A "swift" agreement with the US must be the EU's goal, the Bundesbank President demanded. However, Nagel added that this should not happen "at any price."