ECB’s Pereira Says Economic Damage of Iran War Has Yet to Show

The Iran war is still too fresh to grasp its full impact on the euro-zone economy, according to European Central Bank Governing Council member Alvaro Santos Pereira.

The ECB should therefore focus on incoming data and be ready to respond to signs prices are spiraling out of control, the Portuguese official said in an interview. Economic growth — despite being low at about 1% — was “resilient” entering the crisis, he said.