ECB executive board member Kazimir said inflation’s spread across the economy will force the ECB to raise rates further and warned price pressures will not ease without policy action. He added that even a US‑Iran peace deal would not bring inflation back to 2% overnight. While the economy has cooled, its resilience gives officials room to act. Kazimir said the job is not done, it is too early to conclude policy need not become more restrictive, and he would not rule out further tightening. June

ECB executive board member Kazimir said inflation’s spread across the economy will force the ECB to raise rates further and warned price pressures will not ease without policy action. He added that even a US‑Iran peace deal would not bring inflation back to 2% overnight. While the economy has cooled, its resilience gives officials room to act. Kazimir said the job is not done, it is too early to conclude policy need not become more restrictive, and he would not rule out further tightening. June inflation data—especially core inflation—could be decisive; July is uncertain and fresh forecasts arrive in September, so decisions should be taken meeting by meeting.