ECB kept interest rates on hold in July after a June hike. The brief statement confirmed that the central bank’s policy stance remains unchanged for the foreseeable future.

Energy prices, still markedly above pre‑war levels, are described as “close” to the June projections. This signals that inflationary pressures in the sector are stabilising, though they remain a key concern for the ECB.

Market watchers await Christine Lagarde’s upcoming press conference. Analysts predict she will adopt a more hawkish tone, citing the renewed hostilities between US and Iran that have pushed oil and natural‑gas prices higher again.

The situation is evolving; further details will emerge after the press conference. Investors and policymakers will need to monitor the ECB’s next moves closely.