ECB Set to Hike Rates Thursday as Gulf War Keeps Oil Inflation Elevated

📉 FRANKFURT — The ECB is about to raise rates because of a war it cannot stop. 📌 LOOK CLOSER: Brent above $100 is feeding back into eurozone CPI, forcing the ECB's hand. Rate hikes cool demand but can't fix supply-side inflation — Europe pays twice: higher energy costs and tighter credit. Italian and southern European sovereign spreads widen under rate pressure. Frankfurt raising while Washington fights buys no peace, just recession insurance.