ECB Philip Lane: Oil shock to require rate hikes
The European Central Bank (ECB) Chief Economist Philip Lane crossed the wires, saying that the energy shock caused by the Iran war will require a restrictive policy at a conference in London.
The announcement of required rate hikes due to the oil shock is likely to strengthen the euro against other currencies while putting downward pressure on oil prices. Traders may react by selling oil futures and adjusting their positions in euro-denominated assets.
The European Central Bank (ECB) Chief Economist Philip Lane crossed the wires, saying that the energy shock caused by the Iran war will require a restrictive policy at a conference in London.
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