The ECB closely monitors developments in the Middle East and related impacts
European Central Bank (ECB) officials have been closely monitoring the escalating Middle East crisis due to its potential global economic impact. The conflict has caused concern among investors, leading to a rise in oil prices. This information was shared by Gabriel Makhlouf during a recent visit to Cyprus, which is serving as an evacuation center for Westerners escaping violence, a situation he called a "human tragedy".
In response to these developments, the ECB recently increased its key interest rate by 25 basis points. However, they hinted that this could be the last increase for now. The bank is also managing the downward trend in inflation in the euro area as part of its strategic approach.
European Central Bank (ECB) officials have been closely monitoring the escalating Middle East crisis due to its potential global economic impact. The conflict has caused concern among investors, leading to a rise in oil prices. This information was shared by Gabriel Makhlouf during a recent visit to Cyprus, which is serving as an evacuation center for Westerners escaping violence, a situation he called a "human tragedy".
In response to these developments, the ECB recently increased its key interest rate by 25 basis points. However, they hinted that this could be the last increase for now. The bank is also managing the downward trend in inflation in the euro area as part of its strategic approach.
