ECB held 2% rate, signaling potential hikes later. Eurozone inflation hit 3%, exceeding target. War in Iran drove oil prices up, risking inflation spiral. Core inflation slowed to 2.2%. ECB warns of intensified inflation and growth risks. Euro rose 0.2% to $1.17. Mark Wall notes ECB not pre-committing to rate path. Analysts expect 25-bp increase in June to 2.25%