world-economy

ECB Official Warns Inflation Pressures Persist Despite US-Iran Peace Deal

European Central Bank Governing Council member Gabriel Makhlouf cautioned Tuesday that a resolution to US-Iran tensions would not immediately ease euro-area price pressures. The Irish central banker said resolving the conflict represents only a partial step toward inflation relief. Makhlouf stressed that supply chain normalization and energy price adjustments would likely unfold gradually rather than swiftly following any peace agreement. "An end to the conflict does not necessarily mean an immediate end to the shock," Makhlouf said in Dublin, adding that "it remains to be seen how quickly supply chains normalize and energy prices adjust."