ECB's Mersch warns on inflation effect from oil

European Central Bank council member Yves Mersch said in an interview on Wednesday 28 September that oil prices at current levels risk boosting wages and feeding inflation.

``The longer the oil prices remain high, the higher the risks are that second-round effects will also materialize,'' Mersch, one of the 18 members on the ECB's rate-setting governing council, said in an interview with Bloomberg at an event in Luxembourg late Wednesday. ``That's the reason why we called for particular vigila