BoE's Greene says some of the global economic resilience to the Iran war is due to inventories; second round effects of the energy price shock will not show up for another year
The BoE's Greene highlights that the current resilience in the global economy despite the Iran conflict is partly due to existing inventories.
Italian Balance of Trade (Mar) 4.709B (Prev. 4.944B)
Pakistan shared revised Iranian proposal to end the war with the US on Sunday night, according to Pakistani sources
BoE's Greene says some of the global economic resilience to the Iran war is due to inventories; second round effects of the energy price shock will not show up for another year
Iranian Foreign Ministry Spokesperson Baghaei says have made great efforts for safe movement and protection of the Strait of Hormuz, in constant contact with Oman to develop a mechanism, Mehr reports; Talks with the US continue through Pakistani mediation
Japanese Chief Cabinet Secretary Kihara says they are watching market moves with a high sense of urgency, including long-term rates. No comment on FX intervention.
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- Should not be looking through negative supply shocks.
He emphasizes that the second-round effects of the energy price shock are still to come, suggesting a cautious outlook on inflation and supply dynamics, which could influence future rate decisions. This commentary hints at a potential dovish stance if negative supply shocks persist, affecting how the BoE may navigate monetary policy in the near term.
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