ECB's Kocher Says Eurozone Inflation to Remain Elevated Despite Iran Peace Deal

According to ECB Governing Council member Martin Kocher, eurozone consumer prices will remain elevated for some time despite the U.S.-Iran temporary peace agreement taking effect today (June 18). Middle East tensions have exposed energy price vulnerabilities; while the newly reached accord may help lower prices, inflation will persist at higher levels in the near term, Kocher said. The ECB stands ready to act anytime to ensure inflation returns to its 2% target, though economic responses remain uncertain.
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