The euro zone’s underlying consumer price growth is proving stubborn, according to European Central Bank Governing Council member Joachim Nagel. Speaking at the International Economic Forum of the Americas, the Bundesbank president reiterated that he and his colleagues won’t simply lower borrowing costs automatically, but rather judge conditions at each meeting as it comes. “It’s true that core inflation is still very sticky,” Nagel said Wednesday in Montreal, Canada, while acknowledging that it was right to ease policy last week. “We are on a bumpy road, but we all know that the last mile is the most complicated ... (full story)