ECB widely expected to hike; US strikes Iranian tankers amid Hormuz tensions
briefing: UK borrowing costs hit a new high ahead of budget. ECB is widely expected to raise its deposit rate by 25bps this week. US strikes three Iranian oil tankers after IRGC naval attacks.
The ECB is widely expected to raise the deposit rate by 25bps this week. US strikes three Iranian oil tankers after an IRGC attack on naval ships, while the US energy chief says the Navy will defend Hormuz until Iran backs down. Iran warned of a painful response if it suffers further attacks. OPEC+ kept oil output policy unchanged for October, and oil edged higher on renewed Middle East tensions.
Putin signed off on a 72-hour ceasefire with Kyiv as US envoys visit. Japan's August reserves posted their largest-ever drop after a record intervention, and Japan likely sold Treasuries to fund the intervention. China will pump $54B into state banks and insurers.