10 Hrs
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المشهد العربي
ECB reaffirms energy crisis management
The European Central Bank affirmed its ability to deal with the energy price shock caused by the war in the Middle East through a careful response, with the impacts on the economy currently remaining limited. The chief economist noted that current wage contracts indicate stability in their frequency, and that the shock's effect on overall inflation has not yet exceeded the path that requires extraordinary measures. He also pointed out the possibility of increased core inflationary pressures next year if no unexpected reactions occur, explaining that the response could range from a temporary surpassing of these pressures to more stringent measures, with a preference for a measured approach under current circumstances.
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