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Economic · Economic

Currency traders are starting to buy protection against bigger exchange-rate swings after months of calm, as banks warn that shifting Federal Reserve expectations and elevated geopolitical tensions could be about to jolt markets.

Economic · Economic

A goal and an assist from Kylian Mbappé were enough to propel France into the FIFA World Cup semi-finals with a 2-0 victory over Morocco. The result was predicted by the Bond Vigilantes team at M&G Investments, who have developed an economic model that has called the correct team to go through 15 out of 16 times in the round of 32. Carlos Carranza, Senior Emerging Markets Debt Fund Manager at M&G joins The Opening Trade to discuss how macroeconomics can help predict who will take home the trophy. (Source: Bloomberg)

Economic · Economic

Vladimir Putin has acknowledged fuel supply problems in Russia following strikes on oil refineries, saying petrol exports have been banned and a diesel export ban is under consideration.

Economic · Economic

European Central Bank Executive Board member Isabel Schnabel warned that price pressures could turn out stronger than anticipated even as a US-Iran peace deal reopens the Strait of Hormuz.

Economic · Economic

IMF says prices have eased since US-Iran agreement but Gulf trade remains disrupted The International Monetary Fund says energy and commodity prices have fallen since the United States and Iran agreed to halt hostilities and reopen the Strait of Hormuz, but warned that Gulf trade flows will take time to return to normal. IMF spokesperson Julie Kozack said the fund would decide in its 8 July World Economic Outlook update whether to maintain the three growth scenarios it issued in April, which were based on possible outcomes of the US-Israeli war on Iran. In May, as the Strait of Hormuz remained closed and oil prices stayed above $100 a barrel, Kozack said the global economy was moving away from the more stable "reference forecast" towards an "adverse scenario" of 2.5 percent growth.

Economic · Economic

Metal stocks experienced a significant downturn Tuesday, with the Nifty Metal index dropping 3.2% as falling commodity prices, domestic economic slowdown fears, and anticipated US Federal Reserve rate hikes impacted investor confidence. Vedanta led the decline. Analysts suggest a cautious approach, advising a wait-and-watch strategy before re-entering the sector amidst these headwinds.

Economic · Economic

China’s flood of cheap exports is bolstering the case for emerging-market bonds by helping to keep inflation under control across the developing world, according to Pacific Investment Management Co.

Economic · Economic

The dollar touched the highest level since November on Tuesday as traders cement views on the Federal Reserve hiking interest rates this year.

Economic · Economic

Treasuries rose as a selloff in US stocks and further declines in oil prices curbed wagers on Federal Reserve interest-rate increases over the coming year.

Economic · Economic

Russia is weighing a ban on exports of diesel to avoid domestic shortages after Ukraine intensified attacks on the nation’s refineries.

Economic · Economic

Tributes to former Federal Reserve Chairman Alan Greenspan poured in after the news of his death early Monday, many from former colleagues and market players who had a front-row seat during his 18-year tenure atop the US central bank. Bill Dudley, Bloomberg Opinion Columnist and former NY Federal Reserve President, discusses the passing of Greenspan and how his role has influenced the Federal Reserve beyond his time there. (Source: Bloomberg)

Economic · Economic

The European Central Bank’s decision to raise interest rates was “robust” considering inflation will stay higher for longer, according to Vice President Boris Vujcic.

Economic · Economic

Russia is considering fuel imports ‌and corresponding subsidies to cap prices as ways to mitigate supply disruptions of petrol and diesel caused by Ukrainian strikes on oil refineries, Vedomosti daily reported on Tuesday, citing two unnamed sources. Numerous regions across Russia, the world’s third-largest crude oil producer, have reported restrictions on fuel sales, rising prices of oil products ⁠and long queues at filling stations due to supply shortages. Apart from supplying crude oil...

Economic · Economic

Deutsche Bank has significantly lowered its gold price forecast, warning of a potential drop to $3,800 per ounce if the Federal Reserve implements three to four rate hikes. This shift comes as resilient US economic data and monetary policy tightening are increasingly influencing gold prices, overshadowing geopolitical tensions and oil prices. Asian demand also shows signs of weakening, further pressuring the precious metal.

Economic · Economic

European Central Bank Governing Council member Jose Luis Escrivá said high oil prices are feeding through to other parts of the economy.

Economic · Economic

European Central Bank officials are facing the risk that inflation will hover above their goal “for quite some time,” according to Chief Economist Philip Lane.

Economic · Economic

Gold prices held steady as U. S. -Iran peace talks progressed, offering a glimmer of regional stability. However, escalating expectations of a December Federal Reserve interest rate hike cast a shadow over the precious metal. Traders are now betting heavily on a rate increase, influencing market sentiment. Other precious metals saw mixed movements.

Economic · Economic

Sony is making a significant return to the US investment-grade bond market after nearly three decades, with plans for a multi-billion dollar offering. This move comes as companies rush to secure funding amidst expectations of potential interest rate hikes by the Federal Reserve. The tech giant's decision also reflects a broader trend of Japanese firms seeking dollar-denominated debt as domestic rates rise.

Economic · Economic

The MPC members had voted for a status quo in the June policy, citing resilient growth and the need to assess inflation impact while stating that the MPC would closely monitor incoming data. The Reserve Bank of India has projected FY27 growth at 6.6% in the June policy, while the economy expanded at 7.7% in the January-March quarter, exceeding earlier estimates.

Economic · Economic

At long last, Starmer is out. Can Burnham bring new hope to Britain? Submitted by Peter Oborne on Mon, 06/22/2026 - 17:11 After years of disastrous policy, both at home and abroad, it's time this country had a decent prime minister British Prime Minister Keir Starmer makes a statement to announce his resignation outside 10 Downing Street in London on 22 June 2026 (Henry Nicholls/AFP) Off The myth-making has begun. Allies of British Prime Minister Keir Starmer are claiming that he is a decent man who has done his best for his country; a brave and principled politician whose heroic efforts rescued the Labour Party from bankruptcy and oblivion. In the words of Labour MP Luke Akehurst, a close ally, Starmer “achieved what many said was impossible by taking Labour from a broken party, morally compromised by antisemitism and extremism, at the end of the Corbyn era, to a landslide win”. Starmer himself boasted on the steps of Downing Street on Monday that he leaves office with Britain’s reputation restored as a country that stands for “decency, respect and the rule of law”. If only a small part of this was true, Starmer would not have been forced out. But it’s not. Starmer posed as a man of the left, then brought the language of Enoch Powell back to mainstream British politics by warning that the country risked turning into an “island of strangers” without stronger immigration controls.. push({}); He imported the morality of the gutter into government with the appointment of Peter Mandelson as ambassador to Washington. When shameful details of Mandelson’s friendship with the late paedophile financier Jeffrey Epstein became public, Starmer would not take responsibility for his mistake. Instead, he lashed out at others, in particular the permanent under-secretary at the foreign office, Olly Robbins. Starmer smeared Robbins for failing to brief him, and then he sacked him. Manipulation and deceit Starmer’s claim on Monday morning that he had restored “decency, respect and the rule of law” to Britain is a cynical and straightforward lie. As leader of the opposition, Starmer signalled his support for Israeli Prime Minister Benjamin Netanyahu’s collective punishment of Gaza, with water and fuel withheld from the civilian population - a war crime. Far from defending the rule of law, he brought a new authoritarianism to British justice Once in Downing Street, Starmer continued to arm Israel as it carried out what the United Nations, along with a majority of scholars, now view as a genocide. Incredibly, he leaves office without accusing Israel of ever committing war crimes. Starmer undermined trial by jury. He attacked migrants. Far from defending the rule of law, he brought a new authoritarianism to British justice, especially when he widened the definition of terrorism to include supporters of Palestine Action. Rather than restoring public service, as he promised upon taking office less than two years ago, he was found to have accepted gifts including clothing, designer glasses, and even the use of a flat owned by a rich friend. Advised by his now-disgraced former chief of staff, Morgan McSweeney, Starmer was an expert at the politics of manipulation and deceit. He ran for the Labour leadership six years ago posing as a “friend” of former leader Jeremy Corbyn, and the candidate of the left. To ingratiate himself with traditional party members, he made 10 pledges in his leadership manifesto - then ripped them up once he’d won.. push({}); In a gross act of betrayal, he turned brutally on Corbyn and his supporters, forcing them out of the party. In this way, Starmer split the Labour Party and created the conditions for the rise of Zack Polanski’s Greens. Different kind of politics Meanwhile, Starmer lurched Labour to the right as part of a strategy to win back Reform voters. Yet he is reportedly still blaming others for his downfall. “He gave everything to Labour, including sacrificing much of his children’s teenage years to help make the party electable. He feels deeply betrayed, especially by those he believed were loyal to him,” Politics UK quoted a Labour source as saying. Starmer should not blame others. He needs only to look in the mirror if he wants to understand his failure as prime minister. Makerfield by-election: This may finally be the end for Starmer Read More » Andy Burnham, now nailed on as Starmer’s successor, must urgently learn the lessons from the outgoing leader’s mistakes. Starmer, deeply influenced by Mandelson, inherited the Blairite belief that a politician needs to lie to obtain power. Starmer tried to copy former Prime Minister Tony Blair by turning on the Labour left and cultivating billionaires instead. This meant forming alliances with Britain’s far-right media, especially the Murdoch press - another mistake. These strategies worked well for Blair. They have proved disastrous for Starmer. Burnham will be in Downing Street soon. He can succeed, and anyone who loves Britain will hope he does so. But he can only succeed by reverting to a different kind of politics. He stands a chance because, most paradoxically, unlike Starmer and Blair, he is not a natural member of the metropolitan elite. Like Harold Wilson in the 1970s, Burnham comes from the north. His father was a telephone engineer and his mother a receptionist. Burnham has been a great success as mayor of Manchester. So long as he remembers to govern in the interests of ordinary people and not billionaires; to keep his integrity, resist blandishments and be himself, Burnham stands a chance of succeeding when so many have failed. All reasonable people should be on his side. It’s time Britain had a decent prime minister - and we’ve never needed one more. The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of Middle East Eye. UK Politics Opinion Post Date Override 0 Update Date Mon, 05/04/2020 - 21:29 Update Date Override 0

Economic · Economic

Once Keir Starmer had beaten the left, he had no plan for government Submitted by Oscar Rickett on Mon, 06/22/2026 - 14:33 'He was rubbish on all metrics,' one civil servant says of prime minister, who presented himself as the grown-up politician UK Prime Minister Keir Starmer announces the timeline for his resignation, following Andy Burnham's decisive victory last week in the Makerfield by-election, outside 10 Downing Street, in London, Britain, 22 June 2026 (Jack Taylor/Reuters) Off As a candidate for the leadership of his party, Keir Starmer ’s pitch to Labour voters was this: keep most of Jeremy Corbyn ’s policies but present them with a suit on and a tie done up. The people behind his campaign to replace Corbyn, which began months before the 2019 election in which the veteran left-winger was dispatched by Boris Johnson, saw Starmer as the best person to deliver this message. With the backing of Morgan McSweeney, Peter Mandelson, Roger Liddle and other figures on the right wing of the Labour Party, Starmer became leader. He made ten left-wing pledges to the Labour Party members who elected him. All were subsequently abandoned or watered down. First as Labour leader, then as prime minister, Starmer kept the appearance of managerial, suit and tie professionalism, while abandoning the policies he said he’d carry over from Corbyn, the man he had described as a friend. “The door is open, and you can leave,” Starmer told left-wingers, who he disparaged as antisemites.. push({}); But, according to civil servants, former legal colleagues and Labour Party sources who spoke to Middle East Eye, Starmer, who has resigned as the most unpopular prime minister the UK has had in decades, also failed when it came to being the grown-up politician who knew how to get things done. This, they said, was evident in how he governed, and evident in the UK’s approach to Israel ’s genocide in Gaza, where the norms of international law were abandoned. 'Rubbish on all metrics' According to people who know him - including those who play football with Starmer close to his home in Kentish Town, north London - the prime minister is defined by his ambition and competitive spirit. He hates to lose. But having got to the top, he did not know what to do, and lost it all in less than two years. “He was rubbish on all metrics, apart from the fact that he isn’t a liar or a cheat – but really that should be an entry requirement,” one civil servant, who worked with Starmer and his former chief of staff Morgan McSweeney, told MEE. 'Height, voice, inspiration, achieving anything: he was rubbish on all fronts' - British civil servant “Height, voice, inspiration, achieving anything: he was rubbish on all fronts. ” The British official said that McSweeney, a Labour operative and close friend of Peter Mandelson’s who is credited with masterminding Starmer’s ascent to power, “had no idea what to do with the control he had once he was in government”. “He was a campaigner,” another civil servant said of McSweeney, “and he just stayed in that mode once he was in government. He didn’t look to get things done. “Leadership at this moment needs three things: vision, a clear sense of where we are taking the country and why,” Labour MP Clive Lewis told MEE. “It needs empathy, a real grasp of how people are living and what they are up against. And it needs a plan equal to the scale of what we face. Keir had none of these. “Even so he would not be the first PM to be guilty of such failings. But these are not normal times. Facing us is the spectre of the far right and such failings become catastrophic as opposed to just electorally problematic. That could not be allowed. Hence his early departure. ” Starmer against the left With over £700,000 in undisclosed funding – some of it from staunchly pro-Israel business figures like Trevor Chinn – McSweeney’s Labour Together organisation took back control of the Labour Party for its right wing, with Starmer as figurehead.. push({}); A source who has known McSweeney and his family since his childhood in County Cork, Ireland, described to MEE a man driven by his hatred of Corbyn and the Labour left, which he had clashed with as an organiser in different parts of London. 'Keir Starmer ends as he started: with lies' - Jeremy Corbyn “He’s a neoliberal,” the source said of McSweeney, who tends to be described as economically left of centre, but socially conservative. “He joined the Labour Party because he knew he had a chance of doing well there… The contempt he and his wife [Imogen Walker, who became a Labour MP in 2024] have for Corbyn, is visceral. ” This contempt was present even in Starmer’s resignation speech. In fact, it was front and centre. The outgoing prime minister said he had inherited a Labour Party “that was politically, financially and morally bankrupt”. He said he had ripped out “the poison of antisemitism, restoring trust on the economy, defence, and national security”. Responding, a spokesperson for Corbyn told MEE: "Keir Starmer ends as he started: with lies. Corbyn turned Labour into the largest party in Europe, built and funded by half a million people who believed in social justice and peace. "Starmer swapped political principles for corporate donors – and leaves behind a legacy of broken pledges, grotesque inequality and complicity in genocide. If that isn't moral bankruptcy, then what is? " Starmer and Gaza On Monday, the day of Starmer’s resignation, Corbyn will formally re-present his bill for an independent inquiry into the British government’s complicity in Israel’s genocide in Gaza. Madeleine Rees, a British human rights lawyer who worked closely with Starmer in the 1990s, pointed to Starmer’s position on Gaza as a key failing. 'He capitulated on things he really shouldn’t have. The biggest of these was Gaza' - Madeleine Rees, human rights lawyer Another lawyer, who also worked with Starmer in his early days as a liberal barrister, said that there were now very few colleagues of the prime minister’s from his days at Doughty Street Chambers who would still defend him. “I didn’t think his reign would be so short. It shows how important optimism is,” Rees told MEE. “He capitulated on things he really shouldn’t have. The biggest of these was Gaza. Abetting a genocide. He could have taken a legal stand and called it a crime. “I feel sorry for him because he is a decent man, despite all this, and this will be super hard for him,” she said. Away from Gaza, an Indian foreign policy adviser and analyst asked MEE: “Have you an inkling of what UK policy on Afghanistan, Pakistan, southeast Asia, Hong Kong and India is? I have no clue what the UK stands for anymore. ” The adviser, who participated in negotiations over the UK-India Free Trade Agreement (FTA), said that this deal would “make rich UK wallahs richer. What is the UK but land around the City of London? ” 'Get In': The plot involving a pro-Israel Irishman that helped Keir Starmer to power Read More » “Starmer’s foreign policy was foreign to the UK’s interests,” the Indian source said. “The development aid is gone. The BBC has no support from them. British universities in India are all shops, with no research and development angle. ” Andy Burnham is now expected to replace Starmer. One left-wing Labour activist said he feared the “king of the north” would be “Starmer 2.0”. Josh Simons, who replaced McSweeney as chief of Labour Together before becoming the MP for Makerfield in 2024, gave up his seat for Burnham and was a very visible presence during the by-election campaign. Wes Streeting, preferred candidate of Labour’s right wing, has thrown his support behind Burnham, having resigned as health secretary last month. If he gets a top job, the party’s left will face a struggle for relevance. John McDonnell, shadow chancellor under Corbyn, has called for Labour to return to being a “broad church”, “in which the views of the full range of traditions, left, right and centre, are respected and engaged with”. Asked by MEE if this broad church was likely to appear, McDonnell said: “We’ll see, but if the broad church is not re-established, any administration will fail. ” UK Politics News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0

Economic · Economic

Lori Calvasina, head of US equity strategy research at RBC Capital Markets, says the strength of US corporate earnings is propping up stocks amid concern that the Federal Reserve will raise interest rates. But there are limits to how many hikes the market can withstand, she says on Bloomberg Television's ``Surveillance. '' (Source: Bloomberg)

Economic · Economic

The European Central Bank must watch for any knock-on impact on wages from higher oil and commodity prices resulting from the Middle East conflict, Governing Council member Jose Luis Escrivá said.

Economic · Economic

Bangkok-based Precious Shipping Pcl, whose vessel was struck in March by Iranian projectiles in the Strait of Hormuz, said it remains cautious about sending ships through one of the world’s most important energy and trade chokepoints.

Economic · Economic

Johanna Chua of Citigroup Global Markets discusses the outlook for monetary policy and energy prices. (Source: Bloomberg)

Economic · Economic

Global markets faced jitters as U. S. -Iran tensions escalated, impacting oil prices and the Strait of Hormuz. Despite peace talks, threats from President Trump and Tehran's actions cast a shadow. U. S. Meanwhile, the British pound weakened amid political uncertainty, and the Japanese yen neared a two-year low, with authorities watching currency movements closely. Treasury yields also climbed, signaling expectations of further interest rate hikes.

Economic · Economic

Gold prices surged over 1% as easing U. S. -Iran tensions and falling crude oil prices reduced inflation and interest rate hike fears. While investors anticipate the Fed holding rates steady, Indian gold demand saw a dip amid volatility. Swiss gold exports also experienced a decline. Other precious metals like silver, platinum, and palladium also saw gains.

Economic · Economic

Tehran says talks advance on sanctions and frozen assets Iran said "good progress" was made during the first day of talks with the United States on issues including the release of Iranian assets and relief from oil-related sanctions. Foreign ministry spokesman Esmaeil Baghaei said the Iranian delegation stressed that the conflict must end on all fronts, including Lebanon, while discussions also addressed "the issuance of necessary licenses for oil sales and the release of Iranian assets". Baghaei said discussions were held on the safe passage of ships through the Strait of Hormuz and “a mechanism was set up, which is important”. The comments came after Iranian finance minister Seyed Ali Madanizadeh said the memorandum of understanding would lead to the lifting of oil sanctions and allow Iran to sell crude oil without restrictions. Speaking to the state news agency IRNA, Madanizadeh said: "With this agreement, oil sanctions have been lifted, and we can sell our oil without any restrictions and return the foreign exchange to the country. " He added that the accord would also support non-oil exports, increase foreign currency earnings and help address budgetary and exchange rate pressures.

Economic · Economic

Falling crude oil prices might boost growth beyond central bank forecasts, potentially easing rate hike needs. However, supply chain disruptions and embedded input cost pressures require close monitoring. While financial conditions appear restrictive, strong foreign currency inflows from new deposit and borrowing schemes could influence future monetary policy, with the RBI balancing growth concerns against inflation projections.

Economic · Economic

Oil prices rise amid uncertainty over US-Iran talks Oil prices rose on Sunday as traders assessed the implications of ongoing US-Iran negotiations and the durability of the ceasefire between the two countries. According to Reuters, Brent crude futures climbed by $1.09, or 1.35 percent, to $81.66 a barrel by 22:06 GMT, after reaching an early session high of $82.30. The increase came amid continued uncertainty over future oil supplies and the outcome of diplomatic talks. Oil prices had fallen last week after several tankers successfully transited the Strait of Hormuz, easing concerns about disruptions to one of the world's most important energy shipping routes. However, market participants remain cautious as negotiations continue and questions persist over the long-term stability of the agreement.