TechFlow News, May 19: In a report, HSBC economists Janet Henry and Besen Ellis stated that even if the U.S. and Iran reach a peace agreement in the short term, more central banks are expected to raise policy interest rates. They noted that even if the Strait of Hormuz reopens swiftly, risks from supply shocks—and their impact on global inflation and growth—will persist. Current rate hikes are driven more by credibility concerns. Australia’s and Norway’s central banks faced inflationary pressures even before the conflict and hope May’s hike will be their last. The European Central Bank and the Bank of England may begin raising rates in June or July, while further monetary tightening in emerging-market economies could follow if the U.S. Federal Reserve hikes rates. HSBC expects the Philippines to raise rates further and forecasts rate hikes in India and Indonesia in the second half of the year. (Jinshi)
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