European Central Bank President Lagarde said that the conflict in Iran is putting pressure on economic activities.

European Central Bank President Christine Lagarde said that the economic outlook is highly uncertain and will depend on the duration of the ongoing Middle East conflict and the extent of its impact on energy and other commodity markets as well as global supply chains. "Surveys show that economic growth is slowing down, and since the outbreak of the war, both consumers and businesses have seen a decrease in confidence in the future," she said. "Looking ahead, high energy costs are expected to continue to put pressure on real incomes, making households and businesses less willing to consume and invest."