1242 GMT - The European Central Bank left interest rates unchanged on Thursday. However, against a backdrop of higher commodity prices and the latest increased tensions in the Middle East, this pause is likely to be temporary, Fidelity International's Conor Parle says in a note. "Beyond oil prices, gas prices had been increasing even before the recent heightened tensions," the eurozone economist says. Reasonable resilience in the euro area economy means that once the ECB updates its September forecasts it will likely be in a comfortable position to increase rates by a further 25 basis points, while sending a clear message about its commitment to price stability, Parle says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
July 23, 2026 08:42 ET (12:42 GMT)
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