ECB's Olli Rehn warns the Middle East energy shock is creating stagflation in the euro area, with growth at 0.8% and inflation at 3%. Here's what it means

Oil prices plunging to $58-61 per barrel have slashed ECB July rate hike odds to 33%, easing pressure after June's 25-basis-point increase to 2.25%.

ECB Governing Council member Olli Rehn warns against fixed rate paths ahead of the June 11 decision, citing geopolitical risks and oil-driven inflation