[ECB Governing Council Member Nagel: If an oil shock leads to unanchored inflation expectations, the central bank must act] Jin10 Data, May 12 – ECB Governing Council Member Nagel stated on Tuesday that if an oil shock triggered by the Iran war threatens the anchoring of inflation expectations in the Eurozone, the European Central Bank must raise interest rates. He again hinted that the ECB might raise rates in June. Nagel said: 'If the impact of such a shock proves to be significant or persistent—especially if it threatens the anchoring of long-term inflation expectations—then, in line with our mandate, we must take action.' '(Last month) we also discussed the possibility of raising interest rates. Therefore, we will observe developments in the coming weeks. We will hold a meeting in June, at which point we will make decisions based on the latest data.'