ECB warns Iran war energy shock could force rate adjustment
4 Articles
4 Articles
How Should Europe Respond to the Energy Shock?
So far, European governments’ response to the Iran energy shock has missed the mark. Rather than subsidizing energy consumption by reducing fuel taxes, they should be pushing forward with a system that discourages emissions, incentivizes the adoption of renewables, and generates public revenues.
ECB warns Iran war energy shock could force rate adjustment
ECB Executive Board member Piero Cipollone warned the eurozone may need to adjust interest rates as the Iran war energy shock pushes inflation to 3% and oil supply losses outstrip the 1973, 1979 and 2022 crises combined.
It does not rule out that inflation exceeds 3% and two new increases in interest rates ...
Isabel Schnabel launched a warning this Wednesday that no one in Frankfurt wanted to hear: the ECB will be forced to raise interest rates if the energy shock caused by the war in Iran spreads to the rest of the prices.The phrase, collected by Bloomberg, fell like a jar of cold water on the operating tables and in the offices of the European central banks.Because the member of the Executive Board did not speak of a distant risk, but of a possibil…
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