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Real-time News
On September 1st, European Central Bank (ECB) Governing Council member Rehn stated that the ECB must prepare for a potential prolonged "consumption conflict" in the Middle East, which could lead to persistently high inflation in the Eurozone. Rehn said, "We must not be complacent about these inflationary pressures." He noted that energy prices have continued to rise due to the conflict in the Middle East and the near closure of the Strait of Hormuz. "We must not allow any affordability crisis in Europe," he said. Rehns remarks mark a shift in the policymakers stance, as he had previously focused more on growth risks than inflation, indicating a growing support for tightening policies within the ECB Governing Council. Last week, ECB Executive Board member Schnabel, one of the banks most prominent hawks, publicly called for another interest rate hike in September.XPeng Motors (XPEV.N): Delivered 39,107 vehicles in August 2026.Russian news agencies, citing the local governor, reported that Novokubishevsk, a city in Russias Samara region, was attacked by drones.September 1st - According to the Financial Times, a senior European Central Bank (ECB) policymaker warned ahead of market expectations of a rate hike next week that the bank must prepare for a potential protracted "war of attrition" in the Middle East, a conflict that could keep eurozone inflation high. ECB Governing Council member Rehns remarks are expected to reinforce market expectations of a 25-basis-point rate hike next week. Rehn stated, "We must not be complacent in the face of these inflationary pressures," referring to energy prices driven up by the conflict and the near closure of the Strait of Hormuz. He added, "We cannot afford any burdensome crisis in Europe." Rehns comments mark a hawkish shift in the policymakers stance, who until recently prioritized economic growth risks over inflation risks, indicating growing support for tightening policy within the ECB Governing Council.ECB Governing Council member Rehn: The "war of attrition" in Iran could lead to persistently high inflation.
