EU’s Foreign Policy Chief Kallas says we need to work together on what more we can do in a situation where Russia is escalating attacks on Ukraine
HSBC sees the RBA Hiking In September and Q4 to a 4.85% Cash Rate
French Budget Balance (Jul) -145.9B (Prev. -106.8B)
EU’s Foreign Policy Chief Kallas says we need to work together on what more we can do in a situation where Russia is escalating attacks on Ukraine
Russian Foreign Ministry says that Foreign Minister Lavrov may meet Rubio on the sidelines of the UN General Assembly in New York
Nordea pulls forward Riksbank tightening call; sees 25bps hike to 2.00% in November, another 25bps hike in February 2027
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Statements of this kind from the EU's foreign policy chief typically precede rather than follow action: the bloc's established sequence has been rhetorical escalation, a period of member-state negotiation, then a sanctions package whose market weight depends on the unanimity process and the carve-outs extracted along the way. Kallas's prior form is firmly hawkish on Russia, so the language is consistent with her positioning and signals direction more than novelty. The distinction worth drawing is between incremental designations, which have tended to be absorbed quickly, and measures touching energy flows, shipping insurance or third-country enforcement, which are the channels that have historically moved crude, freight and European gas. The tells are whether references to 'what more we can do' harden into a formal proposal on the Council agenda and whether the usual holdout member states signal consent or resistance. Escalation in strikes has in past episodes also revived discussion of air-defence transfers and use-of-asset questions, both of which carry their own follow-on calendars. As rhetoric rather than a decision, the signal is directional and low-conviction.
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