President Joachim Nagel of the Deutsche Bundesbank has rejected direct market interventions such as a fuel‑price cap, citing mixed results from earlier price‑setting experiments. In an interview with RTL and ntv on Thursday he explained, “When it comes to interfering in price‑setting processes, the experience has shown that the outcomes were not only positive”. Instead of prescribing concrete policy measures, he called for a review of price determinations by the Competition Authority (Monopolkommission).
On the issue of bringing German gold reserves back from the United States, Nagel remained calm. He noted that the central bank conducts regular checks and maintains a diversified storage strategy. “We regularly review our holdings there” he said. “I am not worried about the gold we store in the U.S”. He added that 51 % of the reserves remain in Germany, 37 % are held in the United States, and 12 % are stored in England.
