The European Central Bank is widely expected to raise interest rates for the second time this year on Thursday as it seeks to contain a fresh inflationary shock triggered by soaring energy prices amid the Iran war, Reuters reported.
Escalating attacks since the end of August have ended a period of relative calm, with the United States and Iran striking military, shipping and energy infrastructure. The conflict has pushed oil and gas prices sharply higher, renewing concerns over a broader wave of price increases across the fuel-importing euro zone, Reuters said in a report.
