European Central Bank Governing Council member Vujcic said that energy prices are still very close to the baseline scenario.

European Central Bank Governing Council member Boris Vujcic said that despite the recent rise in energy prices after the ceasefire, overall we are still close to the baseline scenario assumption. The Croatian official said on Monday in Zagreb, "Although oil and gas prices have risen in the past week, we are still very close to the baseline scenario." However, this statement seems to be slightly at odds with the views of other policymakers. The latter recently stated that the situation in the Middle East is evolving towards a "negative scenario" for the European Central Bank. Officials in Frankfurt are still assessing how to deal with the rising costs of energy, with the market currently expecting a 50% probability of an interest rate hike this month.