The European Central Bank's Survey on the Access to Finance ‘of Enterprises (SAVE) revealed that Eurozone firms expect inflation to surge in the near term due to the Iran war, but longer-term bets remained steady. The ECB is monitoring firms' reaction to rising energy prices and is prepared to raise borrowing costs if inflation increases occur. While inflation expectations for one year ahead have increased, the three- and five-year future expectations are unchanged. Wage growth is seen as moderating. The survey also revealed that 16% of firms expected their profits to decrease during the quarter.