ECB's Makhlouf: Concerned about higher-for-longer energy price scenario

European Central Bank (ECB) Governing Council member Gabriel Makhlouf said on Friday that without a clear timeline for the end of the conflict in the Middle East, he is concerned about a "higher-for-longer" energy price scenario, per Reuters.

Key takeaways

"Inflation expectations need to be closely monitored for signs of de-anchoring."

"I will be paying close attention to indirect effects such as cost-push inflation in production, transportation, and services."

"Potential second-round effects via wages will take longer to show up, given the staggered nature of wage-setting."

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Market reaction

EUR/USD holds its ground in the American session and trades in positive territory above 1.1750.

JONLI KOTIROVKALAR

Nomi / Simvol
Grafik
% O‘zgarish / Narx
GBPUSD
1 kunlik o‘zgarish
-0.30%
1.323
EURUSD
1 kunlik o‘zgarish
-0.35%
1.10529
USDJPY
1 kunlik o‘zgarish
+0.03%
159.744
AUDUSD
1 kunlik o‘zgarish
-0.29%
0.68081