Paul Hannon

Paul Hannon The European Central Bank would have to raise its key interest rate more than would otherwise be the case if governments are

Business activity in Europe and Asia slowed in May as energy costs rose and new orders cooled, an indication the fallout from the conflict in the Middle East has weakened the global economy.

Economists worry that a sharp drop in immigration could weaken economic growth as the current workforce ages and starts to retire.

Should the disruption to energy production and shipping stretch well into next year, global growth could slide to 2.1% in 2026 and 1.8% in 2027.

The OECD just issued a stark warning on the cost to the global economy if the war drags on without a resolution. If energy production in the Persian Gulf starts to recover this month, OECD expects a 2.8% expansion for this year, a slowdown from last year's 3.4% growth. But if the disruption to

The central bank looks set to raise its key interest rate next week, seeking to send a strong message on inflation at a time when the eurozone economy is at risk of a slide into recession.

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Global flows of goods across borders continued to show resilience despite the uncertainty caused by the conflict in the Middle East.

The central bank this week is set to become the first of its peers to tighten policy as a consequence of the Middle East conflict, and most economists expect the ECB to raise its key rate twice.

The central bank might again raise its key interest rate, despite the welcome news of a potential U.S.-Iran peace deal, Philip Lane said.