[ECB Executive Board Member Panetta Explains Reasons for Rate Hike, Emphasizes No Pre-set Path] Jin10 News, May 29 – European Central Bank (ECB) Executive Board Member Panetta acknowledged the necessity of raising interest rates while also urging colleagues not to prematurely signal subsequent tightening measures. Panetta pointed out that the ongoing Iran war, rising inflation expectations, depletion of fuel inventories, and other risks of supply disruptions all indicate the need for some form of action. He stated: 'From a forward-looking perspective, it seems necessary to recalibrate the monetary policy stance to address the risks of persistent inflationary pressures.' However, he also issued a warning, saying: 'It remains crucial not to be constrained by a pre-set path.'