Reigniting Inflation Heaps Pressure on European Central Bank
Dow Jones07-23 20:15
The European Central Bank held interest rates steady on Thursday, but investors expect it will push borrowing costs higher in the coming months to contain inflation driven by the war in the Middle East.
The central bank left rates at 2.25%, as widely expected by markets, after lifting them for the first time in almost three years last month. Global oil prices have jumped back toward $100 a barrel as tensions escalate in the Strait of Hormuz, reigniting the risk of war-induced inflation pressures.
Updates to follow as news develops.
(END) Dow Jones Newswires
July 23, 2026 08:15 ET (12:15 GMT)
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