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ECB Warns Iran War May Push Eurozone Inflation Expectations Higher; Rate Hike Expected in Two Weeks

GateNews
CommoditiesForex
According to the European Central Bank's official blog article published on May 29, the ECB cited Iran's conflict as a potential driver of higher medium-term inflation expectations among eurozone consumers. The article noted that geopolitical tensions and prior energy price shocks have increased households' likelihood of expecting faster future price growth. The eurozone's current inflation rate stands at 3% and is expected to accelerate further. Market participants widely anticipate the ECB will raise interest rates by 25 basis points in two weeks. The bank highlighted the risk that consumer short-term inflation expectations could extend into the medium term as retail price transmission effects continue to unfold.
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