European Central Bank pauses interest rates amid Middle East war
Business
The European Central Bank (ECB) is keeping interest rates unchanged for now, thanks to the ongoing war in the Middle East making things unpredictable.
With oil and gas prices jumping, inflation in the eurozone is expected to hit 2.6% this year, up from earlier hopes of just 1.9%.
Since the eurozone relies heavily on imported energy, these disruptions are hitting especially hard and could slow down economic growth.
Fed and Bank of England also on hold
Other big central banks, like the US Federal Reserve and the Bank of England, are also holding their rates steady while watching inflation closely.
ECB President Christine Lagarde will soon talk more about how these global tensions might affect everyday life and the economy in the eurozone.