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ECB’s Escrivá: Recent Oil Price Swings Make Rate Decisions Harder

ECB’s Escrivá: Recent Oil Price Swings Make Rate Decisions Harder

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member José Luis Escrivá said on Thursday that recent swings in oil prices triggered by developments in the Middle East conflict were making it more difficult for policymakers to assess the appropriate path for interest rates.

9 July 2026

ECB Tone Meter

Entire Governing Council

27 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 9 July 2026

Meeting Bias

ECB Governing Council Meeting