The tension around the war with Iran has once again shaken energy markets and driven the price of oil above 110 dollars a barrel. After Donald Trump's speech, in which he avoided specifying when the Strait of Hormuz could be reopened, investors reacted nervously and accelerated crude oil purchases. The West Texas Intermediate (WTI), a benchmark in the United States, has climbed above this threshold —the highest level since March 9— and is heading for its most intense daily increase since 2020, while Brent, a benchmark in Europe, also maintains an upward trend in a context marked by geopolitical uncertainty and the risk of further supply disruptions.

Caution at the European Central Bank (ECB). Despite the Iran nuclear deal and rising fossil fuel prices, the ECB's Governing Council unanimously agreed at its meeting this Thursday not to change interest rates and keep them at 2%. sixth consecutive timeHowever, the president of the financial institution, Christine Lagarde, has opened the door to future interest rate hikes. The French leader warned that the Middle East conflict "has created upside risks to inflation and downside risks to economic growth," making the economic outlook "much more uncertain." "The war will have a significant impact on inflation in the short term due to rising energy prices," the ECB president noted at a press conference. However, the ECB has decided not to take action. "The Governing Council is well positioned to navigate this uncertainty," Lagarde assured. The institution emphasizes that inflation is currently under control, around the 2% target set by the bank itself, and asserts that expectations for price increases "in the longer term are firmly anchored and the economy has shown resilience in recent quarters."

The Vice President of the European Central Bank (ECB), Luis de Guindos, asserted this Wednesday that housing policies, especially those affecting rentals, have created "bottlenecks" in the market that partly explain the rising prices in the sector. Guindos praised the fact that the Spanish economy is growing, largely thanks to the arrival of foreign immigration, but contrasted this with the fact that "the housing supply is very limited."

Nonstop. Mortgage issuances again set records in July. In Catalonia, a total of 8,406 transactions were closed, representing a 25.7% increase compared to the previous year, according to data released this Thursday by the National Institute of Statistics (INE). A total of €1,589.85 million in mortgages for home purchases were lent, 40.7% more than a year ago and 22% more than the previous month.

Rising electricity and oil prices, which led to higher gasoline and diesel prices, pushed up the cost of living for Catalan families in July. In the midst of the summer season, rising prices for air travel and package holidays also played a role. Overall, the year-on-year inflation rate in Catalonia was slightly lower than the Spanish average, although it fell short of 2%, the target level set by the European Central Bank (ECB).

No surprises in Frankfurt. Given the uncertainty surrounding the White House, the European Central Bank (ECB) has avoided any missteps and decided to keep interest rates at 2% while awaiting the outcome. the trade war between the European Union and the United StatesThis is the first time in 2025 that the banking institution has decided not to cut the price of money, following eight consecutive meetings of the ECB's governing council in which it had agreed to reduce it. "The environment remains exceptionally uncertain, particularly due to trade disputes," ECB President Christine Lagarde stated at a press conference.

Two weeks after US President Donald Trump unleashed the tariff machinery that has dynamited markets around the world, the European Central Bank (ECB) met this Thursday with the aim of calming tensions and addressing the uncertainty generated by the trade war. As expected, the institution chaired by Christine Lagarde announced a further cut in interest rates of a quarter of a percentage point, to 2.25%. This is the sixth consecutive rate cut since the banking institution initiated this trend last June.