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ECB Ready for Energy Price Shocks as Oil Prices Climb

Guavy AI Editorial Team
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EUR
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The European Central Bank (ECB) has taken steps to prepare for potential energy price shocks and is in a good position to respond, according to Bundesbank President Joachim Nagel.

Nagel stated that the ECB left interest rates unchanged on Thursday but hinted at a possible rate hike in September due to rising oil prices. Natural gas prices are also surging, with crude oil currently trading around $100 a barrel.

The Bundesbank President emphasized that while the situation remains fragile in the Middle East, the ECB has already taken measures to mitigate potential inflation impacts from energy price hikes.

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