ECB’s Stournaras Says High Oil Price Could Force Rate Hike, Report Says

Governing Council member Yannis Stournaras warned that the European Central Bank could be forced to hike borrowing costs if the price of oil maintains its current level, according to Athens News Agency.

“That falls between the second and third scenarios, rather than the first and second of the ECB,” he said, referring to the baseline, adverse and severe paths for growth and inflation the ECB presented in March.