1511 GMT - Minutes from June's European Central Bank meeting indicate policymakers remain concerned about broadening indirect impacts from surging oil prices, Oxford Economics' Mateusz Urban says in a note. But with oil prices and futures falling since the tentative U.S.-Iran ceasefire, council members should now keep rates unchanged at July's meeting, he says. That's also consistent with scant evidence of second-round impacts and benign June inflation print. Statements from President Lagarde and other influential policymakers point to the ECB staying put too, Urban says. "However, we cannot rule out another hike later in the year, especially if the passthrough of the cost shock to core inflation proves stronger than we assume, or if energy prices surge again." (edward.frankl@wsj.com)
(END) Dow Jones Newswires
July 10, 2026 11:11 ET (15:11 GMT)
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