Kocher: Raising interest rates will help stabilize the situation, and the European Central Bank will ensure that the medium-term inflation rate drops to 2%

Bank of Korea Governor Shin Hyun song stated that he cannot fall behind the curve in controlling inflation. The Middle East conflict has pushed up energy prices and disrupted supply chains, and the Bank of Korea will resume tightening monetary policy as early as next month. Shin Hyun song stated that the current trends in growth, inflation, and financial stability are relatively clear. When price stability is threatened, the Bank of Korea must avoid acting too late, as inflation in South Korea may still remain above target levels for a long time.

WTI crude oil futures fell more than 4%, falling below $84 per barrel for the first time since April 17th, as Iranian media released new details of the Iran US memorandum of understanding.

Nomura Securities expects the European Central Bank's terminal interest rate to rise to 3.00% by March 2027, which is 40 basis points higher than current market pricing.

European Central Bank Managing Director Moran stated that this week's interest rate hike is aimed at curbing secondary effects and is taking inflationary pressures seriously.

European Central Bank Managing Director Ren said that raising interest rates would help prevent inflation from spilling over.