A senior European Central Bank policy official warned that if international oil prices remain near $100 per barrel through year-end, the ECB will have no choice but to take further rate-hike action. The remarks came just as the bank completed its second rate increase in three months, underscoring the sustained pressure that Middle East geopolitical conflict is placing on the eurozone's inflation outlook. Austrian National Bank Governor Martin Kocher said in an interview on Thursday (September 11) that persistent Middle East tensions and elevated energy prices have made inflation risks considerably more pronounced than just a few months ago.
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