European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11 raised its benchmark interest rate for the first time since 2023 as the Middle East war stokes inflation, despite concerns the move could hit the struggling eurozone economy. The ECB lifted its deposit rate a quarter point to 2.25 percent, becoming the first major central bank to tighten monetary policy in response to the energy shock unleashed by the conflict. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

European Central Bank (ECB) President Christine Lagarde arrives at a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11, 2026 raised its inflation forecasts while cutting growth expctations for this year as the blockade of the Strait of Hormuz threatens to prolong a surge in global energy prices. The bank now forecasts inflation of 3.0 percent under its baseline scenario, up from its March figure of 2.6 percent. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

European Central Bank (ECB) President Christine Lagarde arrives at a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11, 2026 raised its inflation forecasts while cutting growth expctations for this year as the blockade of the Strait of Hormuz threatens to prolong a surge in global energy prices. The bank now forecasts inflation of 3.0 percent under its baseline scenario, up from its March figure of 2.6 percent. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

TOPSHOT - France's President Emmanuel Macron chairs a videoconference meeting dubbed "Global Convergence for Growth Summit" with officials and head of states from China and G7 members states, at the Elysee Presidential Palace in Paris on June 11, 2026. (Photo by SIMON WOHLFAHRT / POOL / AFP via Getty Images)

TOPSHOT - France's President Emmanuel Macron (C-R) chairs, flanked by (From L) French economist Helene Rey, French Tresaury managing director Bertrand Dumont, France's Economy, Finances and Industry Minister Roland Lescure, Elysee's secretary-general Pierre-Andre Imbert, and macro-economics presidential advisor Clemence Lenoir, a videoconference meeting dubbed "Global Convergence for Growth Summit" with officials and head of states from China and G7 members states, at the Elysee Presidential Palace in Paris on June 11, 2026. (Photo by SIMON WOHLFAHRT / POOL / AFP via Getty Images)

European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11 raised its benchmark interest rate for the first time since 2023 as the Middle East war stokes inflation, despite concerns the move could hit the struggling eurozone economy. The ECB lifted its deposit rate a quarter point to 2.25 percent, becoming the first major central bank to tighten monetary policy in response to the energy shock unleashed by the conflict. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

European Central Bank (ECB) President Christine Lagarde arrives at a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11, 2026 raised its inflation forecasts while cutting growth expctations for this year as the blockade of the Strait of Hormuz threatens to prolong a surge in global energy prices. The bank now forecasts inflation of 3.0 percent under its baseline scenario, up from its March figure of 2.6 percent. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on June 11, 2026. The European Central Bank on June 11, 2026 raised its inflation forecasts while cutting growth expctations for this year as the blockade of the Strait of Hormuz threatens to prolong a surge in global energy prices. The bank now forecasts inflation of 3.0 percent under its baseline scenario, up from its March figure of 2.6 percent. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)