The European Central Bank (ECB) said on Thursday it would hold its interest rates steady for the time being, but indicated it was closely monitoring the economic fallout of the Iran war.
The ECB had raised rates last month and hinted at more to come, but a string of relatively calm data in the weeks that followed made a follow-up step seem less urgent.
Still, Thursday's decision came as oil futures prices once again briefly topped $100 per barrel and as more intense exchanges of fire between the US and Iran have again become a daily occurrence.What did the ECB say about its rates decision?
The Frankfurt-based central bank for countries in the eurozone single currency area said that the outlook for energy prices was currently in line with projections from June, if well above the levels recorded prior to the conflict in the Middle East.
"Uncertainty remains high and the full inflationary impact of the energy shock has yet to play out," the ECB said in a statement on its decision.
