ECB's Schnabel Signals More Rate Tightening Even After Iran Ceasefire
📉 ECB — Schnabel says inflation stays hot even after Hormuz closes. 📌 LOOK CLOSER: A ceasefire drops energy prices but not the inflation they already embedded. Schnabel signals the ECB won't pivot fast — wage spirals and services inflation outlast the oil shock. European economies absorbing Hormuz premiums for months now face a double bind: relief at the pump, rates stay elevated. Southern European sovereigns are the pressure point.
