ECB’s Cipollone sees stagflation risk from Hormuz crisis as remote

European Central Bank executive board member Piero Cipollone poses for a picture in Rome, Italy, February 18, 2026. REUTERS

BERLIN, Aug 24 (Reuters) – European Central Bank policymaker ​Piero Cipollone said ‌the risk of economic stagnation and ​a sharp ​increase in inflation due ⁠to the ​crisis in the Strait ​of Hormuz is rather remote, in an ​interview with ​Italy’s ilsussidiario.net, published on Monday.

“We ‌will ⁠of course need to monitor changes in the ​macroeconomic ​environment, ⁠but for the time being ​there are ​no ⁠signs pointing to a scenario ⁠of ​stagflation,” he ​said.

Writing by Miranda Murray; Editing ​by Susan Fenton