ECB's Nagel sees 'good probability' of converging towards 2% price target

MADRID, May 13 (Reuters) - European Central Bank policymaker Joachim Nagel said on Wednesday there was a "good probability" inflation would converge towards the around 2% inflation target, though he stopped short of indicating the future path of interest rates due to current uncertainty around the implementation of U.S. tariffs.

The ECB cut interest rates seven times in the past year as inflation has been rapidly retreating, and policymakers have already started to lay the groundwork for another cut on June 5, which would take the deposit rate to 2%.