Gate News reports that on March 18, Ebury analyst Matthew Ryan stated that conflicts in the Middle East make it more likely for the European Central Bank (ECB) to raise interest rates rather than cut them next time. He pointed out that the ECB typically overlooks the impact of supply shocks, but the recent surge in inflation in the Eurozone following the Russia-Ukraine conflict may make it more cautious about secondary effects. Even before the outbreak of war, data including negotiations for significant wage increases had already indicated this trend. Matthew Ryan believes that at Thursday’s meeting, ECB President Christine Lagarde is likely to say that the ECB will not allow a dangerous surge in inflation to occur. According to LSEG data, investors expect Eurozone interest rates to rise by about 36 basis points by the end of the year.
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