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Market bets on further European Central Bank rate hikes are being driven largely by higher energy prices but policymakers will look ​at a much wider set of economic indicators when deciding their next moves, ECB Vice President Boris Vujcic told Reuters.

Europe's delay in restocking natural gas storage reserves, combined with near-record prices for diesel and other refined oil products, has added to the pressures on governments as they try to ​contain public discontent and the rise of the far-right.

Joachim Nagel, President of the Bundesbank and ECB Governing Council Member discusses the central bank's latest interest rate decision, his outlook for further rate hikes, and the political landscape in Germany.

The European Central Bank might need to ​raise interest rates further and bring ‌them to a level that mildly curbs the economy if a war-fuelled rise in energy prices ​continues, ECB policymaker Joachim Nagel said ​on Friday.

European Central Bank policymakers expect further policy tightening in the months ​ahead to fight a war-fuelled rise ‌in inflation and could move again as soon as October, two sources told Reuters.