FRANKFURT (Reuters) – The European Central Bank should raise interest rates in July to stop high inflation from getting entrenched, Bundesbank chief Joachim Nagel said on Tuesday, joining an already long line of policymakers calling for quick rate moves. With inflation soaring to a record high 7.5% last month, policymakers are increasingly advocating a rapid unwinding of stimulus, and several, including board member Isabel Schnabel, have made the case for a rate hike already in July. Nagel, a newcomer to the ECB Governing Council, said that in the first step, the ECB should end bond purchases,…