[ECB Governing Council Member Holzmann: High Oil Prices May Force ECB to Raise Rates Further] Jin10 News, September 12 – According to the Financial Times, ECB Governing Council member Robert Holzmann warned that if oil prices continue to hover around $100 per barrel by the end of the year, the central bank will have to raise interest rates further. Following the ECB's second increase in borrowing costs on Thursday, Austrian central bank governor Holzmann stated that 'inflation risks are higher than a few months ago' due to ongoing tensions in the Middle East and persistently high energy prices. Since the U.S.-Iran ceasefire agreement broke down in early July, oil prices have risen by more than 45%, surpassing $100 per barrel. Meanwhile, European natural gas prices have nearly doubled since June, approaching €80 per megawatt-hour. Holzmann remarked, 'If oil and gas prices develop in an unfavorable direction, then... monetary policy must take these changes into account.' He added that inflation risks will further intensify.