The ECB is expected to hold rates. But analysts say hawkish hints could be coming — and a hike isn't impossible

Analysts at ING said a surprise hike at Thursday's meeting “should not be fully ruled out.”

Market Watch • 11 hours ago

Why the ECB Will Probably Hold Rates Steady Despite Iran Inflation Fears

The latest flare-up in fighting probably won't force the European Central Bank's hand on Thursday, even as energy costs creep higher.

Barrons • 5 hours ago

European stocks edge lower amid US-Iran tensions

European shares traded lower on Monday as escalating tensions between the United States and Iran pushed oil prices higher, raising concerns about inflation ahead of another corporate earnings season. Investors also turned their attention to upcoming earnings from major US technology companies and the European Central Bank's policy meeting later this week.

Invezz • Jul 20, 2026

European Energy Stocks Open Higher as Oil Rises on Escalating U.S.-Iran Attacks

European energy stocks opened higher as oil rose on concerns that escalating hostilities between Iran and the U.S. threatened energy flows through the Strait of Hormuz.

WSJ • Jul 20, 2026

Europe Inc heads into strongest earnings season in years, but AI gap persists

European companies are heading for their strongest earnings season in more ​than three years, but investors remain concerned that the region lacks enough AI-powered growth engines to keep pace with ‌the United States.

Reuters • Jul 16, 2026

Renewed Hormuz hostilities drive ECB rates rethin amid ‘extremely volatile' outlook

The ECB hiked its key deposit rate by 25 basis points in June as energy prices spiked. Investors had written off a hike at next week's meeting, but higher oil prices have brought monetary policy back into question.

CNBC • Jul 15, 2026

Eurozone Industrial Production Fell Unexpectedly in May

Eurozone industrial output in May snapped a three-month streak of resilient activity in the face of higher energy costs following the conflict between the U.S. and Iran.

WSJ • Jul 15, 2026

EU drafts 'electrification' plan to curb oil and gas use, after Iran war disruption

The European Union plans to introduce ‌a raft of policies and funding schemes to shift more of its economy to run on electricity, instead of oil and gas, a draft European Commission proposal seen by Reuters showed.

Reuters • Jul 9, 2026

Banking Risk Monthly Outlook: July 2026

Higher interest rates in some emerging Asian banking sectors will likely lead to slower credit growth by the end of 2027. Serbia's interest rate cap order will expire in September, and expectations of this are likely to boost credit growth before expiration.

Seeking Alpha • Jul 9, 2026

Trump Says Truce With Iran Is ‘Over' And Blasts European Allies At NATO Summit

Threats of a resumed conflict and potential disruption in the Strait of Hormuz triggered a surge in global crude oil prices, with the benchmark Brent Crude Futures index surging above $79 a barrel, up from around $72 at the start of this week.

Forbes • Jul 8, 2026