European Central Bank board member Sleijpen said that when necessary, actions will be taken to ensure that inflation meets the target.

European Central Bank management board member Olaf Sleijpen stated that the European Central Bank is ready to take action if the Iran war pushes inflation away from the 2% target. "Persistently high oil prices will eventually transmit to other commodity prices, thus affecting wage formation, which may amplify inflationary effects," he said in a speech in Amsterdam on Thursday. "In this scenario, the European Central Bank will naturally intervene to ensure that inflation remains around 2% in the medium term." He also stated, "the longer the war continues, the longer the disruption in the production and supply of oil and natural gas, the greater the impact on economic growth and inflation."