Summary

• The ECB is increasingly likely to raise interest rates in June if energy prices remain high and the Iran-related conflict continues.
• Inflation pressure is rising again, while eurozone growth remains weak, creating a difficult stagflation-like dilemma for policymakers.
• The Bank of England is also moving toward possible rate hikes as higher oil prices threaten to keep inflation elevated.

By Krzysztof Kamiński

European Central Bank policymakers are increasingly likely to raise interest rates at their June meeting unless energy prices ease or the conflict involving Iran shows clear signs of ending. Although no final decision

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