Economic risks have 'intensified' since Iran war, says ECB

“Economic risks have 'intensified' since Iran war, says ECB Risks to the eurozone growth and inflation outlook have "intensified" due to the war in the Middle East and its impact on global energy supplies, the European Central Bank warned on Thursday. The ECB kept its key interest rate on hold as a result of the risk, it announced. The central bank for the 21 countries that use the euro left its benchmark deposit rate at two percent, where it has been since June last year. "The upside risks to inflation and the downside risks to growth have intensified," the ECB said. "The longer the war continues and the longer energy prices remain high, the stronger is the likely impact on broader inflation and the economy."

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