Global Central Banks Tighten as Iran Deal Faces G7 Scrutiny
By
Leonie Kidd
20d ago· 2 min readenNews
Summary
The article covers multiple global economic developments: the Bank of Japan raising rates to 1% (highest since 1995) amid a weak yen and inflation partly driven by the Iran war; the Reserve Bank of Australia keeping rates at 4.35% with warnings of further hikes; and concerning economic indicators from China including the first retail sales drop in over three years. Additionally, U.S. President Trump's memorandum of understanding with Iran is being scrutinized by G7 leaders.
Source
bskyGlobal Central Banks Tighten as Iran Deal Faces G7 Scrutinycnb.cxKey quotes
· 3 pulledThe Bank of Japan has hiked rates to 1%, the highest level since 1995.
The Reserve Bank of Australia has warned hikes are not off the table, as policy-makers opted to keep rates on hold at 4.35%.
China's retail sales marked their first drop in over three years, while other indicators also contracted in May.
U.S. President Donald Trump will meet his G7 counterparts as his memorandum of understanding with Iran goes under the microscope with other world leaders.
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