ECB

Warning lights over inflation are flashing brighter across the euro zone, and while the European Central Bank kept interest rates on hold as expected today, it made clear that pressure is building for rate cuts to give way to hikes, with markets now looking to June for the first move. Inflation climbed to 3% this month, comfortably above the bank's 2% target, and policymakers now face the prospect of further acceleration after the Iran war drove oil prices to their highest level in four years. ECB President Christine Lagarde…