United Nations economists officially slashed their 2026 global growth forecast to 2.5%, down from the 2.7% projection set back in January. The downward revision is a direct result of the energy crisis sparked by airstrikes in the Middle East and the subsequent blockade of the Strait of Hormuz, which is now strangling the supply of oil, fertilizer, and refined petroleum products.
🇪🇺ECB SET FOR JUNE HIKE, JULY MOVE UNCERTAIN
Sources say the European Central Bank is close to sealing a June rate hike decision, driven by persistent energy-driven inflation near 3%, well above its 2% target.
However, officials are expected to avoid committing to a July…
— *Walter Bloomberg (@DeItaone) May 20, 2026