Iran's conflict with the US raises uncertainty for the ECB's interest rate decisions. US-Iran deal with reconstruction funding in 2026 at 25.5% YES.

Iran conflict worsens Eurozone growth outlook, now at 0.9%. Closure of Bab el-Mandeb Strait by September 30 at 15.5% YES.

The European Central Bank sees no immediate inflation fallout from the Iran conflict. Policymakers are closely watching for indirect price pressures and their potential impact.…