ECB Eyes Another Rate Hike as Iran War Looms Over Euro Zone Economy

The European Central Bank's July meeting account revealed that policymakers considered another interest rate increase likely to counter the economic effects of the Iran war.

Despite keeping rates unchanged at the July 22-23 meeting, officials were already anticipating a possible rate move as soon as September.

According to the account, policymakers noted that another hike would probably be necessary unless the inflation outlook improved significantly.