ECB’s Lane (Ireland, Chief Economist): Oil markets has moved quite a bit since the June decision to hike

ECB will not be boxed into a rate path - - Oil prices now back at pre-war levels while confidence is not; There has not been fast rethinking of investors and consumers - - Oil prices for 2027 and 2028 still seen above pre-war levels due to restocking - - Need to see oil impact on food prices