ECB reassures on interest rates amid energy concerns

The article focused on statements made by the Vice President of the European Central Bank, Boris Vujčić, who clarified that market expectations of interest rate hikes in the Eurozone are heavily based on rising energy prices, particularly oil and gas. However, policymakers are examining a wide range of economic indicators to inform their decisions. He emphasized that increasing energy costs could lead to higher inflation and reduced economic growth, especially if they continue to rise during the fall and households face higher heating bills. At the same time, he pointed out that the Eurozone economy has shown greater resilience than expected, supported by continued exports and private consumption. The central bank plans to maintain the current pace of interest rate hikes, with the possibility of further increases before the end of the year, emphasizing that the assessment of interest rate levels should be made in the context of the overall economic situation.

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