Conor Parle, a Eurozone economist at Fidelity International London, said that the ECB kept interest rates unchanged at today's meeting, but against the backdrop of rising commodity prices and the latest escalation of tension in the Middle East, the suspension of interest rate hikes is likely only temporary. With the exception of oil prices, natural gas prices continued to rise before the recent escalation of tension. Increased demand to replenish low inventories before the onset of winter, as well as the expansion of natural gas imports from overseas countries, may continue to support price pressure in the natural gas market. At the same time, the Eurozone economy has shown a considerable degree of resilience, which means that after the ECB updates its economic forecast in September, it is likely to be in a favorable position to raise interest rates by another 25 basis points to the upper limit of the neutral range, while sending a clear signal to the market that it is committed to price stability.

Conor Parle, a Eurozone economist at Fidelity International London, said that the ECB kept interest rates unchanged at today's meeting, but against the backdrop of rising commodity prices and the latest escalation of tension in the Middle East, the suspension of interest rate hikes is likely only temporary. With the exception of oil prices, natural gas prices continued to rise before the recent escalation of tension. Increased demand to replenish low inventories before the onset of winter, as well as the expansion of natural gas imports from overseas countries, may continue to support price pressure in the natural gas market. At the same time, the Eurozone economy has shown a considerable degree of resilience, which means that after the ECB updates its economic forecast in September, it is likely to be in a favorable position to raise interest rates by another 25 basis points to the upper limit of the neutral range, while sending a clear signal to the market that it is committed to price stability.