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Real-time News
Downing Street: British Prime Minister Starmer and Canadian Prime Minister Carney discussed the situation in the Middle East, including the impact of the continued closure of the Strait of Hormuz on international shipping.Downing Street: Leaders discussed the current situation in the Middle East and the importance of reopening the Strait of Hormuz to end the disruption to global shipping.Israel Defense Forces: The Israel Defense Forces continue to weaken the Iranian regime’s ballistic missile sites and defense systems in the west and central regions.The Israel Defense Forces (IDF) stated that it struck more than 200 targets in western and central Iran over the past day. Targets included command centers where regime personnel were active, defense systems, and weapons storage and production sites.March 16th - The Reserve Bank of Australia (RBA) will hold its second interest rate meeting of the year this week. The countrys already existing inflation problem has been further exacerbated by soaring energy prices triggered by the Middle East conflict. Economists expect the RBA to raise interest rates on Tuesday, increasing the cash rate to 4.1%, in response to the potential for rising oil prices to push up inflation. The money market sees a 75% probability of a March rate hike and anticipates further tightening. Bank of America economist Nick Steiner stated, "The Iranian conflict poses a significant upside risk to inflation, and we expect overall inflation to approach 5%." Australias inflation target is 2-3%. Steiner pointed out that given the current price pressures and tight labor market, the central bank has "virtually no room for maneuver." A failure to raise rates in March "could lead to more drastic tightening later, as high inflation would persist longer and affect public expectations."
