ECB Says Extent of Inflation Shock 'Remains to Be Seen'

European Central Bank Governing Council member Olaf Sleijpen stated that the full extent of the inflation shock caused by the Iran war remains unclear. During an interview with Bloomberg at the ECB Forum on Central Banking in Sintra, Portugal, Sleijpen noted that policymakers will act accordingly as new data arrives. The ECB is monitoring the situation to determine the appropriate response to the economic impact of the conflict as further information becomes available to the governing council.