Frankfurt (Germany), 19 March (LaPresse) – The European Central Bank (ECB) believes that ‘the war in the Middle East has made the outlook significantly more uncertain, creating upside risks to inflation and downside risks to economic growth’. “The conflict,” the ECB states, “will have a significant impact on inflation in the short term through higher energy prices. The medium-term implications will depend on the intensity and duration of the war, as well as on how energy prices affect consumer prices and the economy.”