ECB Keeps All Options Open for July Meeting, Nagel Says Further Action Possible if Needed

According to Jin10, ECB governing council member Nagel said on June 12 that the European Central Bank has kept all options open for its July monetary policy meeting and stands ready to act again if circumstances require. Nagel stated that June's rate hike was necessary because inflation has spread beyond energy to other goods and services. He noted that supply shocks from the Middle East conflict have proven strong and persistent, requiring the ECB not to remain passive. The central bank's decisive action aims to prevent inflation expectations from becoming unanchored.
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