ECB to Monitor Oil Prices Amid Stalled US-Iran Talks, Analyst Says

Germany's Commerzbank interest rate strategist Rainer Guntermann has stated in a report ahead of this week's European Central Bank (ECB) policy meeting that the ECB is expected to continue closely monitoring the high oil prices. According to Jin10, the suspension of U.S. negotiations with Iran and the ongoing stalemate in the Strait situation suggest that oil prices are unlikely to see a significant decline in the short term. Guntermann noted that while this situation will keep the ECB vigilant, it is still too early to consider a rate hike this week.