Bundesbank President Joachim Nagel publicly rejected the idea of imposing price controls on petrol in Germany, according to statements reported by German television broadcasters RTL and NTV. The comments came as the country continues to contend with energy policy decisions that have stirred public and political debate.
Nagel's remarks, as relayed by the broadcasters, made clear his opposition to government-imposed caps or controls on fuel prices. The central bank chief framed his view within the larger set of discussions unfolding around energy policy in Germany, although the reporting does not include further detail on any specific measures under consideration.
In the same set of comments, Nagel addressed recent attention on Germany's gold holdings that are part of the Bundesbank's foreign reserves. He said he is not worried about the portion of the country's gold reserves that are stored in the United States. The Bundesbank maintains significant gold holdings as a component of its foreign reserves, and a portion of those reserves is kept at the Federal Reserve Bank of New York.
Both topics were covered in the broadcasters' reports - domestic economic policy in the form of fuel pricing, and international reserve management regarding the location and security of gold holdings. The reporting attributes the statements to Nagel without presenting additional commentary or extended excerpts beyond his opposition to petrol price controls and his reassurance about the safety of gold held abroad.
These statements by the Bundesbank president therefore touch on two distinct policy areas: measures that would directly affect energy markets and consumer fuel costs, and the stewardship of national assets held as part of Germany's foreign-exchange reserves. The broadcasters RTL and NTV were the sources cited for the coverage of Nagel's comments.
Reporting note - The coverage cited consists of the statements as reported by the German broadcasters; the reporting did not include further elaboration of policy proposals or technical details about reserve custody arrangements beyond the location of a portion of Germany's gold holdings.