06/05/2026 (Agence Europe) – On Wednesday 6 May, Piero Cipollone, a board member on the Executive Board of the European Central Bank, said that the Central Bank’s baseline macroeconomic scenario “seems to be drifting away” from March’s consolidated projections, increasing the likelihood of an imminent adjustment to key interest rates. In a speech delivered in Milan, Mr Cipollone emphasised that the energy shock triggered by the war in the Middle East was fuelling upside pressure on inflation, while weighing on domestic demand and the euro area’s growth prospects. The ECB is keeping a close eye on “possible signs of a de-anchoring of inflation expectations”, the “indirect pass-through of higher energy costs” to the rest of the economy and “second-round effects”, explained the Italian from the ECB. (BD)