Downward-rigid prices in broader goods and services mean oil fluctuations can bleed permanently into core inflation metrics. European Central Bank: Steady for Now, Eyes on SeptemberThe ECB kept interest rates unchanged, adopting a neutral posture as energy prices align closely with its baseline projections. Reserve Bank of India: balancing act continuesThe RBI is expected to maintain a neutral hold at its next policy meeting. While immediate domestic growth looks resilient, the central bank must navigate new headwinds, including higher fuel costs and potential monsoon uncertainties, alongside rising U.S. interest rate expectations. Related articlesBofA warns oil volatility could force c. banks to abandon look-through' policyU.S. pauses Iran air strikes as Trump signals push for dealChina economic growth set to slow in H2 as Beijing avoids broad stimulus