European Central Bank (ECB) President Christine Lagarde gestures as she 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 gestures as she 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 gestures as she 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)

A worker carries a sack of onions at a wholesale vegetable market in Varanasi on June 11, 2026. (Photo by Niharika KULKARNI / AFP via Getty Images)

Workers load a sack of sweet limes onto a lorry at a wholesale fruit market in Varanasi on June 11, 2026. (Photo by Niharika KULKARNI / AFP via Getty Images)

Workers weigh a sack of onions at a wholesale vegetable market in Varanasi on June 11, 2026. (Photo by Niharika KULKARNI / 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 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)