Governing Council member Ante Zigman told markets that the European Central Bank’s foremost task remains anchoring price stability across the eurozone. He stressed that the central bank will not relax its vigilance despite any short‑term relief, underscoring the commitment that has guided policy since the last rate hikes.

Zigman noted that recent declines in oil prices are easing pressure on headline inflation, giving policymakers a modest buffer. Lower energy costs translate into slower pass‑through to consumer prices, which could reduce the urgency for further tightening. Market participants are watching the trend for clues on the ECB’s next move.

Even with cheaper crude, the bank’s mandate does not change; it must keep inflation near its 2% target to protect purchasing power and financial stability. Investors should therefore continue to price in a cautious stance from the ECB, as the central bank balances temporary commodity relief against longer‑term price pressures.