ECB Policymakers Eye More Rate Hikes Amid War-Driven Inflation Fears

European Central Bank (ECB) policymakers expect further policy tightening in the months ahead to combat war-fuelled inflation, which could lead to another interest rate hike as soon as October.

A source told Reuters that ECB officials are growing increasingly concerned about rising gas and oil prices, which they believe may spread to the broader economy.

The ECB raised borrowing costs for the second time this year on Thursday and warned of lasting price pressures.