ECB's Wunsch says the first inclination is to look through the mid-east situation but if higher oil prices last, ECB would have to reassess

Wunsch’s comments suggest the ECB is currently inclined to overlook the geopolitical tensions in the Middle East, but the potential for persistent higher oil prices might prompt them to reevaluate their stance. This indicates a cautious approach towards inflation concerns, particularly if energy prices become a sustained issue, impacting monetary policy considerations moving forward.