ECB Holds Rates but Flags September Hike as Energy Prices Surge
🏦 ECB — Energy inflation is keeping European households on the hook for a war they're not fighting. 📌 LOOK CLOSER: Brent above $100 feeds directly into European CPI, giving the ECB no political room to cut. A September hike would raise borrowing costs for households and governments already under fiscal strain. Italy and France — carrying high debt loads — absorb this asymmetrically. The conflict's economic frontline is Frankfurt, not just Hormuz.
