That course of action is again part of the narrative as energy prices surged after the United States and Israeli assault on Iran and Tehran’s retaliation. (Oil prices surged to the highest level since 2022 Monday, before retreating on Tuesday as the White House foreshadowed a quick end to fighting). The Reserve Bank of India only recently brought its easing cycle to an end; investors had envisaged a period of stability. Traders have placed bets on the European Central Bank hiking this year and the Bank of England delaying its next reduction, at the very least. Will the dramatic escalation in oil prices bring all this undone?

Source: The Star March 12, 2026 09:38 UTC