ECB’s Wunsch Wouldn’t ‘Rush’ to React to Jump in Oil Prices

European Central Bank Governing Council member Pierre Wunsch said he’s inclined for now to look past the jump in energy prices caused by the fighting in the Middle East.

Should policymakers face an “oil shock,” however, they’d have to assess the situation and decide what action to take, the Belgian central-bank chief told reporters Monday in Brussels. Despite the likelihood that higher oil prices would also weigh on the economy, such an outcome would probably be inflationary on a net basis, he said in Brussels.