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ECB Governing Council Member Nagel: Highly Vigilant on Inflation Risks from Iran Conflict

GateNews

Commodities Forex

2026-05-08 17:49:54

According to ECB governing council member Nagel on Friday (May 9), the central bank is “highly vigilant” regarding inflation risks driven by the Iran conflict and will take action as needed to prevent energy cost increases from spreading more broadly to prices. Nagel emphasized that policymakers are prepared to respond, stating, “The Governing Council is aware that risks to price stability are increasing and remains highly vigilant. We will do everything to ensure that energy-driven price increases do not spread and become entrenched.” While the conflict’s medium-term impact on inflation “remains difficult to assess,” the ECB maintains its readiness to act.

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