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2026-09-17 18:56:09
[ECB Governing Council Member Rehn: Energy Shock Has Not Yet Triggered a Second Round of Inflation] ⑴ ECB Governing Council member Rehn stated that, to date, the energy price shock triggered by the Middle East conflict has not spread to other sectors of the economy. ⑵ Rehn pointed out that the main driver of inflation in the Eurozone is clearly energy prices, while wage growth has been relatively moderate. The secondary effects of a price and wage spiral have not yet appeared, at least not so far. ⑶ With inflation stabilizing, the Eurozone's August inflation rate lower than the preliminary figure, and the region's economy showing unexpected resilience in the Middle East conflict, the ECB raised borrowing costs for the second time last week since the outbreak of the conflict. ⑷ According to sources, ECB officials expect borrowing costs to rise further.
