The European Central Bank must prepare for an extended “conflict of attrition” in the Middle East that could keep inflation elevated in the Eurozone, ECB policymaker Olli Rehn told the Financial Times in an interview published on Tuesday.
“We must show no complacency in the face of these inflationary pressures,” Rehn told the newspaper, referring to energy prices that have been pushed up by the war between the US and Israel on one side and Iran and the near closure of the Strait of Hormuz shipping channel.
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