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Energy shock from Iran war to weigh on Europe's growth, boost inflation

Energy shock from Iran war to weigh on Europe's growth, boost inflation

The European Union’s executive commission has cut its growth outlook and predicted higher inflation due to sharply higher energy prices from the war in Iran
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EU in stagflationary trend, must not risk fiscal crisis, ministers say

EU in stagflationary trend, must not risk fiscal crisis, ministers say

By Jan Strupczewski NICOSIA, May 22 (Reuters) - Europe's economy is in a stagflationary trend due to the surge in energy prices caused by the Iran war, but governments must not allow support measures to trigger a fiscal crisis, EU finance ministers said on Thursday. 
Reuters Reuters
Euro zone growth set to slow in 2026 as Middle East conflict fuels inflation, says EU Commission

Euro zone growth set to slow in 2026 as Middle East conflict fuels inflation, says EU Commission

By Philip Blenkinsop BRUSSELS, May 21 (Reuters) - The euro zone economy will slow in 2026 after war in the Middle East triggered the second energy shock in less than five years with the severity of the hit determined by how long the conflict drags on, the European Commission said on Thursday.
Reuters Reuters
Iran war drags European economy down, pushes prices up

Iran war drags European economy down, pushes prices up

By Jonathan Cable and Mark John LONDON, May 21 (Reuters) - The energy shock from the Iran war is seeping ever deeper into the European economy, presenting policy-makers with a dilemma as it simultaneously weighs on growth and pushes prices higher, a broad set of data on Thursday showed.
Reuters Reuters
ECB's Rehn sees few signs yet of high inflation taking root

ECB's Rehn sees few signs yet of high inflation taking root

By Francesco Canepa FRANKFURT, May 21 (Reuters) - The European Central Bank may raise interest rates to preserve credibility in the face of a war-driven rise in fuel costs but there is little to suggest yet that high inflation is taking root in the euro area, ECB policymaker Olli Rehn said in an
Reuters Reuters
European shares hit over two-week highs on signs of progress in US-Iran talks

European shares hit over two-week highs on signs of progress in US-Iran talks

By Twesha Dikshit May 22 (Reuters) - European shares rose to a more than two-week high on Friday, lifted by technology stocks with investors optimistic about signs of progress in U.S.-Iran peace talks despite both sides remaining at odds over key issues.
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U.S. Dollar Declines Amid Hopes for Iran Deal and Treasury Yield Impact

U.S. Dollar Declines Amid Hopes for Iran Deal and Treasury Yield Impact

U.S. Dollar Declines Amid Hopes for Iran Deal and Treasury Yield Impact
Reuters Reuters
China oil import cut, higher US exports wrongfoot market bulls

China oil import cut, higher US exports wrongfoot market bulls

By Robert Harvey, Siyi Liu and Georgina McCartney LONDON, May 21 (Reuters) - As prices for physical crude oil hit all-time highs of over $160 per barrel last month, analysts and traders alike rushed to predict a market Armageddon if the U.S.-Iran war dragged on and the Strait of Hormuz stayed closed
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Scott Bessent sends strong message on Iran finance to G7

Scott Bessent sends strong message on Iran finance to G7

Most Americans never think about who buys Iranian oil or what currency they pay in. They think about the number on the pump display when the tank gets low, the line item on a credit card statement after a Costco run, and the rate on a mortgage offer that just landed in their inbox. Those three ...
Reuters Reuters
Bank of England has time to gauge impact of Iran war, Bailey says

Bank of England has time to gauge impact of Iran war, Bailey says

By David Milliken and William Schomberg LONDON, May 20 (Reuters) - A rise in market interest rates since the start of the Iran war has given the Bank of England more time to assess the economic impact of the conflict, Governor Andrew Bailey said on Wednesday.
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IIF cuts South Africa 2026 growth forecast as Middle East conflict bites

IIF cuts South Africa 2026 growth forecast as Middle East conflict bites

By Colleen Goko JOHANNESBURG, May 19 - South Africa's improving economic outlook has been clouded by the Middle East conflict, which is pushing up energy costs and complicating monetary policy, the Institute of International Finance said on Tuesday. 
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UN lowers forecast for global economic growth in 2026 over Mideast energy crisis

UN lowers forecast for global economic growth in 2026 over Mideast energy crisis

The United Nations has lowered its forecast for global economic growth and raised the prospects for inflation in response to Middle East crises and rising oil prices