Peak inflation 'is almost within reach' in the euro zone, an ECB governing council member told CNBC.
U.S. officials have reportedly urged Ukraine to show it is open to a diplomatic resolution regarding the conflict. Earlier this week, Ukraine President Volodymyr Zelenskyy outlined five conditions for peace negotiations with Russia.
Given the historic levels of inflation, the ECB has announced three rate hikes this year, bringing the main rate from negative territory to 1.5% currently. Market players have priced in another rate increase for December.
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