The European Central Bank may need to raise interest rates if the Iran war has a lasting effect on inflation, Executive Board member Isabel Schnabel said Thursday.
China’s new bank lending likely plummeted to 300 billion yuan ($44.09 billion) in April, a Reuters poll showed on Friday, underscoring persistent weakness in credit demand despite policy support for the world’s second-largest economy.
Continental expects a hit of at least 100 million euros ($117 million) from the Iran war from the second quarter, the German car parts supplier said on Wednesday, as surging oil prices push up the cost of raw materials key to tyre production.
The Automobiles & Auto Parts sector topped growth rankings across Asian industries in April for the first time in nearly two years, according to S&P Global Asia Sector PMI data released Wednesday.
Asian stocks rose sharply on Thursday, with Japanese markets reopening at record highs as growing optimism over a U.S.-Iran peace deal spurred gains in risk-driven markets.
Federal Reserve officials said on Wednesday the ongoing U.S.-backed war with Iran is raising the risk of a sustained inflation shock, with continued high oil prices and developing concerns about problems with global supply chains.