Name: Iran war energy shock puts ECB on alert
Uploaded: 2026-03-31T14:33:03.216Z
Duration: 1 min 25 s
Description: The Iran war has sent oil and gas prices surging and rate hike bets rising, but ECB chief Christine Lagarde says the eurozone is far better placed to absorb the shock than it was when Russia invaded Ukraine.

The Iran war has sent oil and gas prices surging and rate hike bets rising, but ECB chief Christine Lagarde says the eurozone is far better placed to absorb the shock than it was when Russia invaded Ukraine.

European Central Bank President Christine Lagarde stated that the ECB is prepared to address the economic impact of the Middle East war's energy crisis, emphasizing that the bank has a range of response options. Lagarde noted that inflation is currently close to the ECB's 2% target and the eurozone economy remains stable, but the bank will act only after assessing the full extent and persistence of the shock.

At its latest meeting, the ECB kept interest rates unchanged but warned of potential higher inflation and lower growth due to the conflict. Analysts now expect the central bank may raise rates as early as the following month, as rising global oil and gas prices have already led to increased petrol prices in the eurozone, evoking memories of the 2022 energy shock after Russia's invasion of Ukraine.

Iran war energy shock puts ECB on alert

NASA’s historic Artemis II mission to the moon launched Wednesday evening, taking four astronauts into Earth's orbit and on a path toward the world's first crewed lunar mission in a generation, beginning a journey into remarkable territory.

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Washington

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Brussels

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Breakdown