ECB says Euro Zone policy will depend on energy disruptions
European Central Bank (ECB) policymaker Yannis Stournaras stated on Monday that the euro zone’s monetary policy will largely depend on the magnitude and duration of energy supply disruptions caused by the conflict in Iran.
Speaking at the annual shareholders meeting of the Bank of Greece in Athens, Stournaras said that if the recent spike in energy prices proves temporary, the need for monetary policy adjustments would be limited.
However, he added that if rising energy costs remain high and persistent, this could influence medium-term inflation expectations and wage growth, prompting a tighter monetary stance from the ECB.
This statement highlights the sensitivity of euro zone policy decisions to external shocks, particularly energy-related risks stemming from geopolitical conflicts.
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