Exclusive: ECB will react if Iran war pushes up inflation, Nagel says

The European Central Bank will move quickly and decisively if more expensive fuel due to the Iran war leads to durably higher euro zone inflation. This was stated by ECB policymaker Joachim Nagel in an interview with Reuters. He highlighted the bank’s intention to respond to inflation changes linked to rising energy costs. Nagel did not specify the measures the ECB would take but affirmed the bank’s readiness to act under those conditions. The statement focused on inflation related to the Iran conflict’s impact on fuel prices.