On May 23rd, according to Golden Jubilee Data, European Central Bank (ECB) Managing Director Stuart Ross stated that maintaining the credibility of the ECB is a strong argument in support of next month's interest rate hike. In the absence of a peace agreement between the United States and Iran, the inflation outlook is deteriorating, and Eurozone consumers will sooner or later begin to doubt whether policymakers' "ready to take action" is just empty talk. Raising interest rates comes at a cost, both for people and for employment, which is why I hope we don't have to do so. But if the situation continues and we don't take action, then there will be problems, "said Stunaras." For the credibility of the European Central Bank and our response mechanism, we may have to raise interest rates in June. "If the US and Iran reach an agreement, we may see energy prices fall very quickly, and interest rates may be able to remain at current levels. But if no agreement is reached, interest rates may enter another level and inflation problems will become even more severe.