[ECB Governing Council Member: June Rate Hike Inevitable if Strait of Hormuz Remains Closed] Jin10 News, May 20 – ECB Governing Council member Robert Holzmann stated that if the Strait of Hormuz remains closed, a rate hike in June will be unavoidable. He warned that prolonged conflict would significantly drive up inflation in the Eurozone. The Austrian central bank governor, in an interview with the media, emphasized that the ECB's mandate is clear: if policymakers conclude that the 2% inflation target is no longer achievable, a rate hike must follow. No one can predict full-year inflation, as the outcome entirely depends on how long the conflict lasts and how long the Strait of Hormuz remains closed to shipping. Despite weak data, Holzmann noted that Austria's economy performed relatively robustly in the first quarter. If the Iran conflict does not prove to be prolonged, a 0.5% growth for the year is still possible. Holzmann cautiously pointed out that there are still three weeks until the June 11 meeting, leaving room for changes in the situation before any decisions are made.