Fynsa
In the current context, control of the Strait of Hormuz appears to be the real prize. If Iran were to withdraw in the near term without the U.S. managing to secure control of this strategic waterway, that could ultimately be interpreted as a defeat for the Trump administration.
Global financial markets reflect the growing tension between Iran and Israel. Potential energy supply disruption threatens to reshape the economic outlook for the second half of the year.
As we and the market anticipated, the Central Bank Board unanimously decided at its October meeting to cut the monetary policy interest rate by 25 basis points, bringing it to 5.25%.
