The EU Commissioner for Economic Affairs said the European Central Bank must respond to inflation shocks.

European Commissioner for Economic Affairs Valdis Dombrovskis said that the European Central Bank needs to address the issue of rising inflation in Europe caused by the Iran war. "It is quite obvious that the European Central Bank must respond to the worsening inflation," he told reporters upon arriving in Nicosia, Cyprus to attend a meeting of EU economic ministers. The day before, the European Commission lowered its economic growth forecast for the Eurozone in 2026. The Commission's forecast shows that the Eurozone economy will significantly slow down due to the soaring energy costs caused by the Iran war, with inflation reaching its fastest pace since 2023. Economists and markets believe that the worsening inflation pressure may prompt the European Central Bank to raise interest rates in June. However, Dombrovskis emphasized the resilience of the Eurozone economy and once again called for the region to reduce its dependence on fossil fuels.