European Central Bank Governing Council member and Bundesbank President Joachim Nagel stated on Friday that the ECB is in a favorable position to handle the challenges of surging energy prices. He emphasized that before deciding on a rate hike in September, the central bank must fully assess the influx of economic data available during that period.

Nagel's comments come after the ECB unanimously decided on Thursday to hold its three key interest rates steady. However, the central bank simultaneously sent a strong signal that the likelihood of a rate increase in September is rising. Recently, international oil prices have returned to near $100 per barrel, while natural gas prices have also climbed sharply, renewing pressure from energy costs.

Following the rate-setting meeting, ECB President Christine Lagarde revealed that the option of raising rates was discussed but the council ultimately agreed to hold firm. This decision was partly attributed to the fact that the current energy price surge has not yet triggered significant second-round inflation effects.

Nagel defended the decision to hold rates steady, stating that "keeping the key interest rates stable this time is the right move." He noted that the June rate hike has placed the ECB in a strong position, "enabling us to closely monitor subsequent developments." However, he also warned that the situation in the Middle East is highly fragile, and the central bank still faces considerable uncertainty.

Currently, the escalating tensions in the Middle East are complicating the ECB's decision-making environment. With the breakdown of peace talks between the United States and Iran and the resumption of military strikes, the conflict has widened this week. Houthi rebels in Yemen have begun attacking ships in the Red Sea, and the situation around the Strait of Hormuz remains unpredictable.

Lagarde has already laid the groundwork for September's action, indicating that some officials were inclined to raise rates this month. According to sources familiar with the matter, policymakers are prepared to raise rates at the next meeting unless the eurozone's inflation outlook shows clear improvement.

Looking ahead to the next monetary policy meeting on September 10, Nagel reiterated the ECB's traditional stance of never pre-committing to any interest rate decision. He stated: "In September, we will have a wealth of new data and new forecasts, and we will then reassess the inflation outlook."