ECB Warns Energy Crisis to Worsen | Dublin News

Philip Lane warns that energy cost pain is set to deepen before relief arrives, with eurozone inflation projected to hit 3.6% by year-end. The ECB’s latest quarter-point rate hike, following June’s move, was deemed necessary to tackle stubborn inflation fueled by Middle East conflicts and soaring energy prices. Lane stressed the central bank’s forward-looking approach, focusing on long-term energy trends rather than short-term volatility. While acknowledging the need for targeted aid to struggling households, he cautioned against broad support that could worsen inflation. With inflation rising again and no imminent easing, another rate hike could come as early as next month, despite Lagarde’s insistence on no fixed path.

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