'Mild stagflation': Bank of America rips up economic forecasts, braces for $100 oil all year on Iran war disruptions

Trump threatened to stop weapons for Ukraine unless Europe joined the Hormuz coalition - FT

Governing Council began its deliberations by discussing recent developments in the global economy and the implications for the outlook. Global growth had continued to track at about 3%, as had been expected in the January Monetary Policy Report. However, the start of the war in Iran had increased uncertainty around the global outlook. Energy prices had risen sharply, which will boost inflation around the world. Members agreed that the impact of the conflict on global growth and inflation will depend on the duration of the conflict and the extent to which it spreads across the Middle East. Members also noted a new development in global trade—the US Supreme Court’s ruling that the tariffs imposed under the International Emergency Economic Powers Act were illegal and the US administration’s plans to replace tariffs through other means. They agreed that this had no direct implications for sectoral tariffs on Canadian exports and that trade-related risks to Canada remained unchanged since January. In the United States, indicators of economic activity had moderated since January but remained solid. The effects of the US government shutdown on consumption and government spending were temporary and led to slower growth in the fourth quarter of 2025. Economic activity was expected to pick up in the first quarter to average about 2% over the two quarters. The US outlook for 2026 remained in line with the projection in the January Report, driven by consumption and strong investment in artificial intelligence (AI). Investment outside the AI sector was subdued, and exports remained weak. The labour market had softened slightly, with some indicators suggesting there could be more slowing. US inflation had risen in recent months, driven partly by previously announced tariffs that had passed through to pr Just in | Minutes Reveal Governing Council's Concerns Over Rising Gas Prices and Persistent Inflation Impacting Inflation Expectations. BoC's Meeting Minutes: The governing council agreed to keep options open BoC Governing Council felt that in the near term, risks to growth looked tilted towards the downside, whereas the oil price shock represented additional upside risk to inflation.

Iran President To Americans: US ties are among the most misunderstood. Iran harbors no enmity toward ordinary Americans - Press TV. IRAN'S PRESIDENT PEZESHKIAN: IRAN NEVER PURSUED AGGRESSION. ... Iran’s president to Americans: Look beyond war propaganda fog, reject ‘manufactured threat' In the name of God, the Compassionate, the Merciful To the people of the United States of America, and to all those who, amid a flood of distortions and manufactured narratives, continue to seek the truth and aspire to a better life: Iran—by this very name, character, and identity—is one of the oldest continuous civilizations in human history. Despite its historical and geographical advantages at various times, Iran has never, in its modern history, chosen the path of aggression, expansion, colonialism, or domination. Even after enduring occupation, invasion, and sustained pressure from global powers—and despite possessing military superiority over many of its neighbors—Iran has never initiated a war. Yet it has resolutely and bravely repelled those who have attacked it. The Iranian people harbor no enmity toward other nations, including the people of America, Europe, or neighboring countries. Even in the face of repeated foreign interventions and pressures throughout their proud history, Iranians have consistently drawn a clear distinction between governments and the peoples they govern. This is a deeply rooted principle in Iranian culture and collective consciousness—not a temporary political stance. For this reason, portraying Iran as a threat is neither consistent with historical reality nor with present-day observable facts. Such a perception is the product of political and economic whims of the powerful— the need to manufacture an enemy in order to justify pressure, maintain military dominance, sustain the arms industry, and control strategic markets. In such an environment,