ECB's Lagarde welcomes Iran deal, Nagel cautions on lasting inflation

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ECB President Christine Lagarde welcomed the ceasefire deal between the U.S. and Iran, noting potential to reopen the Strait of Hormuz. However, ECB policymaker Joachim Nagel warned that the agreement would not immediately ease high inflation pressures in the eurozone.

PARIS/FRANKFURT, June 15 (Reuters) - ECB President Christine Lagarde on Monday welcomed news of a U.S.-Iran ceasefire, saying it could help reopen the Strait of Hormuz, although fellow policymaker Joachim Nagel cautioned it would bring no immediate relief to high euro zone inflation. U.S. and Iranian officials said overnight they had reached an agreement to end their war and reopen the Strait, a gateway for energy shipment, in a preliminary pact that sent oil prices falling and curbed bets on ECB rate hikes.