BERLIN, Nov 28 (Reuters) - Bundesbank President Joachim Nagel said on Monday inflation would likely remain above 7% next year in Germany and it was unclear when price rises in the broader euro zone would drop back to the European Central Bank's 2% target.
"Monetary policy must ensure (this high inflation) goes away as soon as possible," he told an event of Germany's conservatives party, according to a copy of his speech.
Economists polled by Reuters see euro zone inflation at 8.5% this year, 6.0% next year and 2.3% in 2024 before finally hitting the ECB's 2% target in 2025.
The ECB has increased its rate on bank deposits by a record 200 basis points to 1.5% in three months to dampen demand in a bid to lower price growth. (Reporting by Frank Siebelt; Writing by Sarah Marsh; editing by David Evans)
