ECB official: Iran's war impact persists

Isabel Schnabel, a member of the European Central Bank's Executive Board, confirmed that the Eurozone's economy has not yet returned to its pre-Iran war levels, despite falling oil prices. She explained that inflationary pressures remain strong, keeping the possibility of tightening monetary policy on the table. She noted that gas prices are still approximately 40% higher than they were before the war. Factors such as rising profits among oil refining companies and supply chain issues continue to support inflationary pressures. Additionally, a heatwave and the El Niño phenomenon are putting further upward pressure on food prices and water levels.

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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

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