ECB official Zigman said price stability is the ECB’s primary task and that
falling oil prices are making that task relatively easier. Speaking in his first
public appearance since becoming governor of the Croatian central bank this
month, he said ECB rate hikes have signaled determination despite the risk of
further slowing an already fragile regional economy. He added that geopolitical
developments around the Strait of Hormuz have pushed oil prices down, which he
said will have a positive effect on inflation.
