FRANKFURT — Market expectations for the European Central Bank (ECB)'s next interest rate hike are largely driven by rising energy prices. However, ECB policymakers will consider more economic indicators before determining their next steps. As quoted by Reuters , ECB Vice-President Boris Vujcic stated that rising oil and gas prices cannot be the only factor in determining monetary policy. Investor expectations for an ECB rate hike have increased since the eurozone central bank raised borrowing costs last week. The widening conflict in the Middle East has also pushed fuel prices higher in the region.
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