Joachim Nagel told CNBC that a potential move in rates into restrictive territory was "very much dependent on how the energy prices evolve."

Joachim Nagel told CNBC that a potential move in rates into restrictive territory was "very much dependent on how the energy prices evolve."

ECB policymaker Joachim Nagel said the central bank may need to raise interest rates further if elevated energy prices persist, potentially moving policy into mildly restrictive…