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Story summary
- The European Central Bank (ECB) faces pressure to respond to rising energy prices following the recent conflict in Iran.
- Officials are wary of repeating post-pandemic mistakes, where delayed action led to higher inflation.
- ECB President Christine Lagarde's potential early departure has intensified discussions among policymakers.
- Markets expect a July rate hike ahead of the ECB's March 19 meeting as rising energy costs could change inflation.
